Who promised "two cars in every garage and a chicken in every pot?"
A. Herbert Hoover
B. Franklin D. Roosevelt
C. Dwight D. Eisenhower
D. John F. Kennedy
A. Herbert Hoover
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Austerity measures are designed to:
A. reduce the government budget deficit. B. prevent the collapse of large financial institutions. C. increase consumer spending. D. increase government spending.
Assume that a monopolist practices perfect price discrimination. The firm's marginal revenue curve will
A) be perfectly elastic. B) be equal to its demand curve. C) lie below its demand curve. D) be perfectly inelastic.
Assume that the Fed has a target inflation rate of 2% and that the values for how much the nominal target federal funds rate responds to a deviation of inflation from its target, g, and how much the nominal target federal funds rate responds to real
GDP, h, are both 0.5. According to the Taylor rule, if inflation increases by 6%, the real interest rate will increase by A) 3%. B) 4%. C) 6%. D) 9%.
If the price level decreases, then the aggregate expenditures schedule will shift and this translates into a:
A. Movement down along the aggregate demand curve B. Shift in aggregate demand to the right C. Shift in aggregate demand to the left D. Movement up along the aggregate demand curve