To prevent demand-pull inflation...
What will be an ideal response?
the Fed must not let the quantity of money persistently rise
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Use the following table to answer the next question.All figures in the table below are in billions of dollars.RGDPAggregate Expenditures (Closed Economy)ExportsImports$400$440$50$60450480506050052050605505605060600600506065064050607006805060If this economy were an open economy, the equilibrium real GDP will be
A. $550 billion. B. $650 billion. C. $600 billion. D. $500 billion.
The Trade Adjustment Assistance program is intended to help
a. businesses that seek to expand exports into protected foreign markets. b. local governments that are harmed when businesses fail as imports increase. c. protected industries obtain improved technology in order to increase productivity. d. workers and businesses that lose markets because of increases in imports.
Which of the following shifts the short-run but not the long-run aggregate-supply curve left?
a. an increase in the expected price level b. a decrease in the expected price level c. a decrease in how much people want to consume d. an appreciation of the dollar
Given an initial allocation of resources that is off the consumption contract curve, in a perfect market environment without externalities and imperfect information,
A. one can end up at only one spot on the contract curve. B. both indifference curves could move to a higher level of utility. C. one can end up at any point on the contract curve. D. only one of the indifference curves could move to a higher level of utility.