Macroeconomic issues include all of the following EXCEPT:
A. economic growth
B. energy reserves
C. recessions and expansions
D. productivity
Answer: B
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In 2003, the per-capita income in China was roughly ________ of that in the U.S
A) one hundredth B) one eighth C) one half D) the same as E) one twentieth
The problem faced by the lender that the borrower may take on additional risk after receiving the loan is called
A) adverse selection. B) moral hazard. C) transactions costs. D) diversification.
In the base year, the GDP deflator is always
a. -1. b. 0. c. 1. d. 100.
Refer to the graph above. Assume that the economy is in a recession with a price level of P 1 and output level Q 1. The government then adopts an appropriate discretionary fiscal policy. What will be the most likely new equilibrium price level and output?
a. P1 and Q1 b. P1 and Q3 c. P2 and Q2 d. P2 and Q4