Which of the following is not a category of fiscal policy?
A. government policies regarding taxation
B. government policies regarding transfer payments and welfare benefits
C. government policies regarding money supply in the economy
D. government policies regarding the purchase of goods and services
Answer: C
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The actual rate of unemployment will generally
a. increase as an economy enters a recession. b. decrease as an economy enters a recession. c. fall below the natural rate of unemployment during a recession. d. do both a and c.
According to the AS/AD model, if the economy is in a recession and the Fed wants to increase output and employment, it should:
A. raise reserve requirements. B. act to increase the money supply. C. act to decrease the money supply. D. raise interest rates.
Which of the following statement(s) is (are) false?
A) The current U.S. Secretary of Agriculture is Sonny Perdue. B) The U.S. economy represents a purely capitalistic system. C) The index most frequently used by economists to measure inflation is the CPI. D) Both B and C.
Which of the following is true of cost-push inflation?
a. Cost-push inflation is associated with an economic expansion. b. Cost-push inflation is rarely experienced in developed economies. c. Cost-push inflation is caused by a decrease in aggregate supply. d. Cost-push inflation is identical to demand-pull inflation. e. Cost-push inflation is the result of increased consumer spending.