Between 2007 and 2009, which of the following occurred in the United States, but not in the United Kingdom?
A) an increase in unemployment
B) a negative demand shock
C) a negative rate of inflation (i.e., deflation)
D) a sharp increase in financial frictions
E) a negative supply shock
C
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When Ronald takes another economics class, other people in society benefit. The benefit to these other people is called the marginal ________ benefit of the class
A) social B) private C) external D) Coasian E) extra
If the economy is operating at a point at which short-run aggregate supply is horizontal, then
A) real GDP cannot expand. B) real GDP cannot contract. C) increases in aggregate demand do not increase the price level. D) then increases in aggregate demand do not increase real GDP.
The official Federal Reserve strategy for implementing its monetary policy objectives is spelled out in the
A) Federal Reserve Board (FRB) Decree. B) Federal Reserve Bank Cooperative (FRBC) Proposal. C) Federal Advisory Committee (FAC) Statement. D) Federal Open Market Committee (FOMC) Directive.
Refer to the information provided in Table 25.7 below to answer the question(s) that follow.Table 25.7
Refer to Table 25.7. Total loans of Great Gazoo Bank equal
A. $100,000. B. $300,000. C. $500,000. D. $800,000.