In the dynamic aggregated demand and aggregate supply model, if AD shifts faster than AS
A) stagflation occurs.
B) deflation occurs.
C) disinflation occurs.
D) inflation occurs.
D
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Gross public debt minus all government interagency borrowing is
A) government budget deficit. B) an entitlement. C) U.S. Treasury bonds. D) net public debt.
Which of the following is the best measure of an increase in actual output?
A. Nominal GDP. B. Real GDP. C. Per capita GDP. D. GDP per dollar.
The case against economic growth is often made using which of the following arguments?
A. Limiting growth will contribute to more income equality across nations. B. Economic growth will contribute to more economic security, but it will also produce more boring life styles. C. Economic growth permits us to "make a living," but it does not provide us with "the good life." D. Common property resources need to be protected by the price system.
Which of the following is a government response to asymmetric information?
A. external product certification B. manufacturer's warranties C. product guarantees D. government licensing