Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5 If 2014 is the base year, the price index in 2016 is
A. 81.2.
B. 86.8.
C. 118.8.
D. 123.2.
Answer: D
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The public debt is the:
A. total of all past deficits minus all past surpluses. B. difference between current government expenditures and revenues. C. ratio of all past deficits to all past surpluses. D. amount of U.S. paper currency in circulation.
Which of the following has been the most likely effect of the Fed's credit policy?
A. The scope of asymmetric information problems in the banking industry has reduced. B. The money multiplier and the link between the money supply and the economy have become unstable. C. The federal funds rate and the discount rate have dropped to negative levels. D. Banks and other financial institutions have taken more time to recover from the 2008-2009 financial meltdown.
Economic rent serves
A) a descriptive function by making some wealthier than others, but serves no allocative function. B) an allocative function by guiding available supplies to the most efficient use. C) only to make the rich richer and the poor poorer. D) no useful function in a modern economy.
There is no systematic relationship between the price level and the level of aggregate output when
A. both aggregate supply and aggregate demand are changing simultaneously. B. aggregate demand is changing, but aggregate supply is not. C. aggregate supply is changing, but aggregate demand is not. D. aggregate demand is negatively sloped.