The American Recovery and Reinvestment Act of 2009 included mostly:
A. Increases in taxes and in government spending
B. Decreases in taxes and in government spending
C. Increases in government spending and decreases in taxes
D. Decreases in government spending and increases in taxes
C. Increases in government spending and decreases in taxes
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The overall money supply would tend to increase if the Fed were to
A) increase the required reserve ratio. B) increase the discount rate. C) buy government bonds. D) exchange crisp dollar bills for worn and tattered dollar bills.
The percentage of income that Americans save each year ________
A) is much higher than the percentage the Chinese citizens save B) is higher than the saving rate of most industrialized countries C) is lower than the saving rate of most industrialized countries D) increased by a factor of five every year since the 1970s E) none of the above
Unlike a perfectly competitive firm, a monopolistically competitive firm can incur a loss in the long run
a. True b. False Indicate whether the statement is true or false
Which of the following will most likely occur as the result of an unanticipated increase in aggregate demand?
a. an increase in output and a move to a higher price level b. an increase in prices and a long-run increase in output c. an increase in long-run aggregate supply (LRAS shifts to the right) d. a decrease in the natural rate of unemployment