In the early 1930s, U.S. government expenditures increased as part of the New Deal without any change in taxes. This:
A. shifted the AD curve to the right.
B. made the AD curve flatter.
C. made the AD curve steeper.
D. shifted the AD curve to the left.
Answer: A
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Between 1960 and 2012, the proportion of workers belonging to a union
a. decreased substantially in the private sector. b. was approximately constant in the private sector. c. decreased substantially in the government sector. d. was approximately constant in the government sector.
With railroads, considerable regulatory energy was spent trying to solve the so-called ______________________.
Fill in the blank(s) with the appropriate word(s).
What is the function of a bank examiner?
(A) To make sure banks are obeying laws and regulations. (B) To carry on day-to-day functions within the bank. (C) To respond to banks about their daily reports to the Fed. (D) To oversee decisions about major loans by each bank.
The elasticity of supply of product X is unitary if the price of X rises by:
A. 5 percent and quantity supplied rises by 7 percent. B. 8 percent and quantity supplied rises by 8 percent. C. 10 percent and quantity supplied stays the same. D. 7 percent and quantity supplied rises by 5 percent.