A private investment firm that holds a portfolio of securities is called a mutual fund.
Answer the following statement true (T) or false (F)
True
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When income increases, the demand curve for an inferior good
A) shifts to the right. B) shifts to the left. C) moves up along the demand curve for the product. D) remains constant.
The period of time in which the level of output moves from a trough to a peak is called a:
A. recovery or expansion. B. depression. C. contraction or recession. D. plateau.
According to New Keynesians, which of the following is a key factor that determines the inflation rate?
A. the menu cost B. supply shock C. fiscal policy D. anticipated future inflation
In recent years, the United States has:
A. exported more services abroad than it has imported. B. had a small goods trade surplus with Japan. C. had a large goods trade surplus with the rest of the world. D. maintained an overall trade surplus (goods and services combined) with the rest of the world.