Where the IS and LM curves intersect:
a. actual expenditure is equal to planned expenditure.
b. output equals aggregate demand.
c. savings plus taxes equals investment plus government spending.
d. all of the above.
A
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The economic way of thinking is
A) a biased perspective at the present time, and we should eliminate bias from economics. B) a biased perspective, but the existence of bias does not mean the discipline should be condemned. C) biased only when it is used to argue for particular policies. D) unbiased because economics is a science. E) unbiased insofar as its conclusions are drawn exclusively from actual facts.
?Which of the following factors did not contribute to the federal budget surpluses in the 1990s?
a. ?Higher taxes on the rich b. ?More federal government spending discipline c. ?Slower consumer spending d. ?Rising business optimism based on technological innovation e. ?Market globalization
The costs of pollution abatement
A) increase at an increasing rate with the increase in pollution abatement. B) increase at a decreasing rate with the increase in pollution abatement. C) decrease at an increasing rate with the increase in pollution abatement. D) decrease at a decreasing rate with the increase in pollution abatement.
What explanations have been offered to account for the Great Moderation?
What will be an ideal response?