During the 20th century, the agricultural sector experienced an increase in
(a) the number of operating farms.
(b) the farm population.
(c) the farm output.
(d) all of the above.
(c)
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
The Consumer Price Index (CPI) relies on the calculation of
A) prices of a variable basket of goods that changes frequently. B) prices of a fixed basket of goods that does not change often. C) the components of GDP that change annually. D) the components of GDP that do not change frequently.
Union leaders who focus on increasing the size of their union will be aggressive in demanding higher wages.
Answer the following statement true (T) or false (F)
Which of the following will cause an increase in aggregate demand?
A. Restrictive fiscal policy. B. An increase in the reserve requirement. C. Expansionary monetary policy. D. The sale of bonds by the Fed.