If the prices would have been much higher ten years ago for the items the average consumer purchased last month, then one can likely conclude that
A) the aggregate price level has declined during this ten-year period.
B) the average inflation rate for this ten-year period has been positive.
C) the average rate of money growth for this ten-year period has been positive.
D) the aggregate price level has risen during this ten-year period.
A
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The market structure where there is a single supplier of a good or service for which there is no close substitute is
A) a price searcher. B) a monopoly. C) a tariff. D) the most economically efficient market structure.
Ricardian equivalence will fail to hold if:
A. people increase their spending when they receive a tax rebate check. B. people save, and do not increase their spending when they receive a tax rebate check. C. intended expansionary effects of tax policy fail to occur. D. All of these.
What determines the productivity growth rates of a country?
a. Amount of working capital currently available. b. Rates of increase of capital, technology, and workforce quality c. Current level of gross domestic product. d. Current levels of human capital, physical capital, and technology.
The Children's Health Insurance Program was created in the
A. 1960s. B. 1980s. C. 1990s. D. 1940s.