A stand-by letter of credit issued by a bank is __________ of that bank
A) an asset
B) a liability
C) technically both an asset and a liability
D) neither an asset nor a liability
D
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When the expected inflation rate changes, what happens to the short-run Phillips curve? To the long-run Phillips curve?
What will be an ideal response?
The instrumental variables in the two stage least squares estimation method consists of endogenous variables appearing in either equation.
Answer the following statement true (T) or false (F)
If at full employment the government wants to increase its spending by $100 billion without increasing inflation in the short run, it must do which of the following?
A) Raise taxes by more than $100 billion B) Raise taxes by $100 billion C) Raise taxes by less than $100 billion D) Lower taxes by $100 billion E) Lower taxes by less than $100 billion
A general formula for the multiplier is
A) 1/(1-MPS) B) 1/(MPC) C) 1/(MPS) D) 1/(MPC-1)