Price ceilings were established for most goods during World War II because of
a. chronic excess demand
b. chronic excess supply
c. pressure from Senators in predominantly agricultural states
d. concern over rapidly rising prices as military production increased
e. food shortages
d. concern over rapidly rising prices as military production increased
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If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. short-run demand shock. D. long-run demand shock.
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the quantity of real loanable funds per time period and current international transactions balance in the context of the Three-Sector-Model? a. The quantity of real loanable funds
per time period falls and current international transactions balance becomes more positive (or less negative). b. The quantity of real loanable funds per time period rises and current international transactions balance becomes more negative (or less positive). c. The quantity of real loanable funds per time period and current international transactions balance remain the same. d. The quantity of real loanable funds per time period rises and current international transactions balance remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
If the reserve ratio is 0.08, the money multiplier is:
A. 8.0. B. 12.5. C. 1.0. D. 10.5.
A small reduction in a country's growth rate is a concern to policy makers because
A. a small change can have large effects on per capita GDP over time. B. policy makers focus too much on economic growth and not enough on increasing savings rates. C. a reduction usually leads to future reductions until finally the economy stagnates. D. the larger GDP is the better the economic welfare will be in the future.