GDP is used in the __________ to __________
a. long run; alert us to recessions
b. short run; alert us to recessions
c. long run; gauge the success of monetary policy
d. short run; measure changes in the standard of living
e. short run; check for inflation
B
You might also like to view...
What assets are included in M1? In M2? Is all of M1 and M2 money? If some assets of M1 or M2 are not money, why are they included in M1 or M2?
What will be an ideal response?
U.S. paper currency is considered representative commodity money because it can be redeemed for gold by the U.S. government
Indicate whether the statement is true or false
Because taxes distort incentives, they cause markets to allocate resources inefficiently
a. True b. False Indicate whether the statement is true or false
Which of the following is a way in which governments can directly promote savings and investment?
A. Governments can limit foreign competition by imposing tariffs and quotas on trade B. Governments can expand primary and secondary schools C. Governments can create tax incentives for both businesses and individuals D. Governments can promote vaccinations for children and improve access to clean water