Prior to 2008, some Eurozone nations were______; others were ______, which resulted in ______.
A) large external debtors; large external creditors; a credit-fueled boom
B) irresponsible; trying to pick up the slack; lackluster overall performance
C) inflation hawks; inflation biased; overall mild inflation
D) worried the ECB was not minding the situation; not worried at all; some nations exiting the Eurozone
Ans: A) large external debtors; large external creditors; a credit-fueled boom
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If the Fed's monetary policy reaction function does not change, then when inflation increases the Fed responds by ________ the real interest rate, which ________ consumption and investment spending, which ________ output.
A. increasing; increases; decreases B. decreasing; decreases; decreases C. increasing; decreases; decreases D. increasing; increases; increases
Which principle states that as the production of one good expands, the opportunity cost of producing another unit of this good generally increases?
A. Principle of total cost B. Principle of increasing cost C. Principle of opportunity cost D. Principle of increasing marginal utility
According to the graph shown, if the market goes from equilibrium to having its price set at $10 then:
A. producer surplus will change from (D + E) to (D + E + B + C).
B. producer surplus will change from (B + C + D + E) to D only.
C. producer surplus will change from (D + E) to (D + B).
D. producer surplus will change from (D + B) to (D + E).
Which of the following is not affected by the level of economic activity in a country?
a. The amount spent by entrepreneurs for the installation of new machinery b. The amount spent by consumers to buy goods and services c. The amount spent by government for the provision of social security d. The amount spent by government for the expansion of roadways