The American Recovery and Reinvestment Act of 2009 is a clear example of:
A. Nondiscretionary fiscal policy that made the cyclically-adjusted budget become more positive
B. Nondiscretionary fiscal policy that made the cyclically-adjusted budget become more negative
C. Discretionary fiscal policy that made the cyclically-adjusted budget become more positive
D. Discretionary fiscal policy that made the cyclically-adjusted budget become more negative
D. Discretionary fiscal policy that made the cyclically-adjusted budget become more negative
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
The minimum percent of deposits that banks must hold and cannot loan is determined by the
A) interest rate. B) discount rate. C) required reserve ratio. D) federal funds rate. E) ratio of M2 to M1.
IPOs have become very important in the U.S. economy because they are a major source of financing for
A) so-called "blue-chip" companies. B) hedge funds. C) internet companies. D) mutual funds.
The formal definition of price elasticity of demand is
A) change in quantity demanded divided by change in price. B) quantity demanded divided by price. C) percentage change in quantity demanded divided by percentage change in price. D) quantity demanded multiplied by price and divided by 100.