In response to the deep economic downturn in the US in 2008 and 2009, the US
a. reduced taxes.
b. increased government spending.
c. increased the supply of money.
d. All of the above are correct.
d
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Intraindustry trade relies on
A) economies of scale. B) the product cycle. C) differences in factor endowments. D) government industrial policies. E) monopoly pricing.
The effectiveness of the federal funds rate as an operating target is limited because
A) the Treasury often uses federal funds market. B) reserve requirements often change. C) the demand for reserves is difficult to predict. D) the deposit expansion multiplier is difficult to predict.
Select the term: To sell a state-run firm to individuals
a. standard of living b. privatize c. economic system d. self-interest e. factor payments
A year-long drought that destroys most wheat crops for the season would shift the:
A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.