The United States abandoned the Bretton Woods system of exchange rates in
A) the 1920s. B) the 1940s. C) the 1970s. D) the 1990s.
C
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The consumption function shows
A) a positive relationship between an individual's stock of wealth and his level of planned consumption. B) a negative relationship between planned consumption and aggregate saving. C) a positive relationship between disposable income and planned consumption. D) a negative relationship between disposable income and planned consumption.
An economy is at full employment when ________
A) the unemployment rate is zero B) there is no frictional unemployment C) the unemployment rate equals the natural unemployment rate D) there is no structural unemployment
The ________ of the 1968 tax surcharge led to the prominence of the developer of the permanent-income hypothesis that predicted it, ________
A) success, Walter Heller B) success, Milton Friedman C) failure, Walter Heller D) failure, Milton Friedman
Which of the following will lead to an increase in aggregate demand?
A. An increase in the price level. B. An appreciation in the value of the U.S. dollar. C. An increase in national incomes abroad. D. A decrease in the price level.