If the government imposes a price ceiling below the equilibrium price,
a. it must then buy up the surplus that is generated
b. there will be an excess demand
c. there will be an excess supply
d. everyone who wants to buy this good will be happy
e. the intent is to benefit producers
B
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If U.S. prices increase relative to the rest of the world, we would expect:
A. net exports to increase. B. net exports to decrease. C. net exports to be unaffected. D. government spending to increase.
Cost-push inflation is caused by: a. an increase in aggregate demand
b. a decrease in aggregate demand. c. an increase in short-run aggregate supply. d. a decrease in short-run aggregate supply.
Because of the history of banking panics in the U.S., one of the Fed's primary functions is to
a. dispel rumors about bank problems b. act as a lender of last resort c. hold banks accountable for their actions d. call in loans e. increase the profit that each bank makes
QN=66 (17774) Household spending on education is counted in which component or subcomponent of GDP?
a. consumption of durable goods b. consumption of nondurable goods c. consumption of services d. investment