The implementation lag for monetary policy is _____ for monetary policy than fiscal policy; the lag before the full effects of monetary policy on inflation are felt is ____ than for its effects on real output and unemployment:
a. Longer, longer
b. Longer; shorter
c. Shorter; longer.
d. Shorter; shorter
c
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Between 1929 and 2005 in the United States, as measured by the Lorenz curve, income inequality:
a. was greater. b. remain unchanged. c. was less. d. increased sharply.
Longview Corporation has a stock price of $60, has issued 1,000,000 shares of stock, has retained earnings of $3 million dollars, and a dividend yield of 5 percent. The price-earnings ratio for Longview stock is
a. 20, which is high compared to historical standards of the market. b. 20, which is low compared to historical standards of the market. c. 10, which is low compared to historical standards of the market. d. 10, which is high compared to historical standards of the market.
The marginal productivity theory of income distribution suggests that:
A. government should subsidize the most productive workers through a system of transfer payments. B. each individual should receive income based on his or her contribution to total output. C. resource owners should receive income based on the idea of "from each according to his ability, to each according to his wants." D. resource owners should receive income based upon their needs.
If the equilibrium level of real GDP per year is greater than the full-employment level of GDP, then
A. the economy is at full employment with no price changes. B. a recessionary gap occurs. C. an inflationary gap occurs. D. the economy expands the level of real GDP.