Refer to the information provided in Table 24.1 below to answer the question(s) that follow.Table 24.1
Refer to Table 24.1. The equilibrium level of output is ________ billion.
A. $800
B. $1,200
C. $1,600
D. $2,000
Answer: C
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The nominal rate of interest is 4% and the anticipated rate of inflation is 5%. What is the real rate of interest?
A) 1% B) -1% C) 4% D) 9%
The concept of aggregate supply is a
a. fixed number. b. schedule. c. predetermined amount of output. d. All of the above are correct.
The increase in redistributive programs as a percentage of the government's budget has led to _____
a. a greater potential payoff for special interests b. a welfare bureaucracy dependent upon the existence of the redistributive program c. a concomitant rise in private charity d. a and b e. b and c
Have you ever bought a good by exchanging a piano for it? Unlikely. Economists emphasize this point when they discuss the degree to which an asset can easily be used as money. They refer to the asset's
a. liquidity b. convertibility c. availability d. medium of exchange e. thriftiness