Both the Bush and Obama administrations used tax cuts as a remedy to the housing “bubble.”
Answer the following statement true (T) or false (F)
True
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All else held constant, increased U.S. exports to nations in the European Union create a ________.
A. demand for euros B. shortage of euros C. supply of euros D. surplus of euros
A decrease in the demand for U.S. exports ________ the demand for U.S. dollars and shifts the demand curve for U.S. dollars ________
A) increases; rightward B) decreases; rightward C) decreases; leftward D) increases; leftward
Product differentiation exists within an industry if
A) there are no substitutes for a product. B) there are close but not perfect substitutes for a product. C) the firm can sell all it wants at the chosen price. D) there is a monopoly.
Stagflation can be explained by
a. the IS curve shifting up. b. the IS curve shifting down. c. the LM curve shifting to the right. d. the LM curve shifting to the left. e. none of the above.