Successful activist stabilization policy presumes that
A) the timing of policy impacts on nominal GNP are known.
B) the magnitude, size of impacts, are known.
C) the timing and magnitude of the impact of AD disturbances are known, forecasted with precision.
D) All of the above.
D
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The demand curve for most goods is normally:
A) parallel to the vertical axis. B) parallel to the horizontal axis. C) upward sloping. D) downward sloping.
If the price elasticity of demand for airline travel is 0.52 in the short run and 1.46 in the long run, then the demand for airline travel is ________ in the short run and ________ in the long run
A) elastic; elastic B) elastic; inelastic C) inelastic; elastic D) inelastic; inelastic
Who is responsible for U.S. monetary policy?
What will be an ideal response?
Along any single indifference curve the ________
A) consumer is equally satisfied with any of the combinations of goods B) level of current income is unchanged C) level of future income is unchanged D) level of current and future income is unchanged