In 2017, per capita real GDP was roughly half its value in 1960.
Answer the following statement true (T) or false (F)
False
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Define the following terms briefly and concisely
a. stock b. bond c. portfolio diversification d. speculation e. random walk
Which of the following examples would best stop a recession?
a. in the long run, a well-designed monetary policy that decreases the money supply b. in the short run, a well-designed monetary policy that decreases the money supply c. in the long run, a well-designed monetary policy that increases the money supply d. in the short run, a well-designed monetary policy that increases the money supply
A supply shock that reduces total factor productivity directly affects which term in the production function Y = AF(K, N)?
A. A B. K C. F D. N