(Last Word) In response to the Great Recession, the federal government engaged in significant deficit-funded spending. What was the result of that spending over the first three years?
A. Neither economic growth nor unemployment responded as well as many economists had
predicted.
B. Economic growth responded in accordance with predictions, but unemployment remained
much higher than anticipated.
C. Economic growth remained sluggish, but the unemployment rate fell to predicted levels.
D. Both economic growth and the unemployment rate responded well, reaching the fiscal
policy targets set by the government.
A. Neither economic growth nor unemployment responded as well as many economists had
predicted.
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Borrowers and lenders make transactions based on the
A) expected real interest rate less the expected rate of inflation. B) real interest rate. C) expected real interest rate. D) expected nominal interest rate.
Income tax on the wealthy to finance the welfare for the poor causes income redistribution. This is an example for the trade-off
A) Which goods and services to produce. B) How to produce. C) Who gets the goods and services. D) Who produces the goods and services.
The price of a good will fall when:
a. there is a shortage of the good. b. there is a surplus of the good. c. demand for the good increases. d. the supply of the good decreases.
Refer to Table 9-3. If the required reserve ratio is 10%, what is the value of the bank's required reserves?
A) $25 million B) $40 million C) $60 million D) $75 million