In fiscal year 1997, the U.S. government ran a deficit of about $21.9 billion. In fiscal year 1998, the government ran a surplus of about $69.3 billion. Other things the same, we would expect this change
a. decreased interest rates and investment.
b. decreased interest rates and increased investment.
c. increased interest rates and investment.
d. increased interest rates and decreased investment.
b
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Most of the increase in the monetary base between 2007 and 2012 was due to increases in:
A) currency B) bank deposits C) excess reserves D) Treasury bills
The short-run Phillips curve is based upon labor contracts that reflect a given expected _____
a. price level b. unemployment level c. money supply d. aggregate demand e. unemployment rate
If the price elasticity of supply is elastic, which of the following could be a possible value of the elasticity?
A. 3 B. 1 C. 0.3 D. 0
A percentage increase in the overall price level is called
A) cost of living. B) inflation. C) Paasche index. D) Fischer index.