National income accounting is defined as the
A. Assessment of the distribution of output.
B. Measurement of aggregate economic activity.
C. Use of economic theory to predict future income.
D. Accounting cost associated with economic choices.
Answer: B
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People expect their incomes will decrease next year. As a result, the ________ will shift ________
A) short-run aggregate supply curve; rightward B) aggregate demand curve; rightward C) aggregate demand curve; leftward D) long-run aggregate supply curve; rightward
Commercial banks are able to create money by
A) printing Federal Reserve Notes. B) making loans. C) making customers pay back their loans. D) exchanging their reserves at the Fed for currency.
The ________ interest rate is adjusted for expected changes in the price level
A) ex ante real B) ex post real C) ex post nominal D) ex ante nominal
How much is the percentage of income earned by the highest quintile on Lorenz curve Q?
