According to the Keynesian view of aggregate supply, an increase in the money supply will:
A. Always cause inflation.
B. Cause inflation if the economy is at full employment.
C. Cause inflation only if aggregate supply is horizontal.
D. Never cause inflation.
B. Cause inflation if the economy is at full employment.
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An ambientstandard
a. specifies a pollution limit and lets polluters choose the technology to achieve that limit b. designates the equipment or control method that must be used to abate pollution c. assures that the least-cost abatement approach will be used by all polluters d. none of the above
In order to be classified as a recession, a contraction of general economic activity must last at least
A) one year. B) six months. C) one period. D) one quarter. E) None of the above because recessions do not have a minimum length.
The distribution of income in the United States became more unequal in the 1990s. One explanation for this trend is that advances in information technologies have ________ low-skilled labor and ________ high-skilled labor
A) decreased the demand for; increased the demand for B) increased the demand for; decreased the demand for C) decreased the supply of; increased the supply of D) increased the supply of; decreased the supply of
Around 25 percent of the federal government's budget goes towards redistributive programs
a. True b. False