In response to significant economic problems, the Obama administration recommended
a. more tax cuts.
b. increased government spending.
c. substantial aid to state and local governments.
d. all of the above
d
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The formula for the yield to maturity, i, on a discount bond is
A) i = (Face value - Discount price)/Discount price. B) i = (Discount price - Face value)/Discount price. C) i = (Face value - Discount price)/Face value. D) i = (Discount price - Face value)/Face value.
Show the short-run impact of the following factors on GDP using a graph of the aggregate goods and services market. Assume the economy was originally in long-run equilibrium
a. a stock market crash b. a decrease in the real interest rate c. a flood that destroys most agricultural crops d. a decrease in resource prices e. an increase in the labor force f. an increase in the expected inflation rate
When goods that have intrinsic value are used as money, if their value as money falls, the good:
A. is still useful to people for other reasons. B. is no longer useful to people for other reasons. C. loses its intrinsic value. D. tends to gain in intrinsic value.
Let C = 150 + 0.5y and I = 45. At the equilibrium level of income, y*, the level of saving is
A) 45. B) 75. C) 105. D) 150.