According to Keynesian macroeconomists, prices adjust ________ to shocks, so the government should ________
A) slowly; do little
B) rapidly; do little
C) rapidly; fight recessions
D) slowly; fight recessions
D
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The figure above shows a nation's consumption function. The amount of autonomous consumption expenditure is
A) $1 trillion. B) more than $3 trillion. C) $3 trillion. D) $0. E) $2 trillion.
Foreign purchases of stocks and bonds issued by U.S. corporations ________ between 1995 and 2007 and ________ in 2014
A) decreased slightly; increased slightly B) increased at a slow but steady pace; increased dramatically C) remained stagnant; declined sharply D) increased dramatically; declined
Interest payments on the national debt are about _____ percent of total federal expenditures a year.
A. 2 B. 5 C. 7 D. 11
The Phillips curve describes the relationship between real GDP and inflation.
Indicate whether the statement is true or false.