In the early 1980s, rising interest rates caused a tremendous __________ in the value of savings-and-loan __________
A) inflow; liabilities
B) inflow; assets
C) outflow; liabilities
D) outflow; assets
D
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An increase in which of the following leads to a decline in the monetary base?
A) float B) discount loans C) foreign deposits at the Fed D) SDRs
Which of the following people would not be included among the unemployed?
A. A construction worker laid off because of a slowdown in house building. B. A young mother on welfare because her husband has left her and she must stay home to tend her children. C. A recent high school graduate who has quit his first job as a stock clerk in a grocery store in order to look for a better job. D. A recent college graduate who has not yet found a job.
What is measured on the vertical axis of the aggregate demand/aggregate supply model?
A. real Gross Domestic Product (GDP) B. the interest rate C. the price level D. nominal income
What is the Laffer Curve? Explain the relationship that is shown in the curve.
What will be an ideal response?