Which of the following cities does not have a Federal Reserve Bank located in it?
A. Denver
B. San Francisco
C. Atlanta
D. Chicago
Answer: A
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Which of the following is NOT included in measured U.S. GDP?
A) the value of the pizzas produced at Pizza Hut in Kansas City B) the value of leisure time C) the value of the goods produced at a French owned plant in Atlanta, Georgia D) the value of the services produced by a lawyer in Tampa, Florida E) the value of a plane produced by Boeing in Washington and sold to Air France
Since 1970 there has been a clear increase in the proportion of the banking industry assets made up of
A) mortgage loans. B) state and local government securities. C) cash. D) business loans.
The United States' involvement in World War II caused
a. both the aggregate demand curve and aggregate supply curve to shift outward, causing GDP to increase and the price level to decrease b. both the aggregate demand curve and aggregate supply curve to shift inward, causing GDP to increase and the price level to decrease c. the aggregate demand curve to shift inward and the aggregate supply curve to shift outward, causing both GDP and the price level to increase d. the aggregate demand curve to shift outward and the aggregate supply curve to shift inward, causing both GDP and the price level to increase e. aggregate demand to initially shift out, then reverse, leaving the economy at equilibrium