Since the mid-1980s, Federal Reserve policies have often been described as attempting
A) accelerated takeoffs.
B) sustained growth.
C) stalling tactics.
D) soft landings.
D
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According to the rational expectations hypothesis, an individual's assessment of future economic performance
A) considers both past performance and current monetary and fiscal policy. B) only considers past performance. C) does not consider the impact of inflation. D) does not consider past performance.
Linesha, a college student working part-time received a wage increase. An avid movie buff, she increased her purchases of Blu-ray discs and reduced her purchases of DVDs. Based on this information
A) DVDs and Blu-ray discs are substitutes. B) the cross-price elasticity between DVDs and Blu-ray discs is negative. C) DVDs and Blu-ray discs are normal goods. D) Blu-ray discs are normal goods and DVDs are inferior goods.
If the marginal cost of hiring another worker to produce sandwiches is $4 per sandwich, and sandwiches sell for $5 each, then:
A. another worker should be hired. B. another worker should not be hired. C. two more workers should be hired. D. Cannot answer this without more information.
According to the assumptions of the quantity theory of money, if the money supply increases 5 percent, then
a. both the price level and real GDP would rise by 5 percent. b. the price level would rise by 5 percent and real GDP would be unchanged. c. the price level would be unchanged and real GDP would rise by 5 percent. d. both the price level and real GDP would be unchanged.