The time it takes for a policy to actually work is known as:
A. fiscal policy.
B. crowding out.
C. inside lags.
D. outside lags.
Answer: D
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Over the past 40 years, which of the following has the U.S. economy experienced?
A) persistent inflation B) persistent deflation C) secular deflation D) hyperinflation with prices rising at over 100 percent per year
Refer to Figure 19-3. Which of the following is not true?
A) Thai exports to the United States are more expensive at exchange rates greater than $.03/baht than at the equilibrium exchange rate. B) The baht is overvalued at exchange rates greater than $.03/baht. C) To achieve an exchange rate greater than $.03/baht, the Bank of Thailand must buy surplus dollars with bahts. D) Thai imports from the United States are cheaper at exchange rates greater than $.03/baht than at the equilibrium exchange rate.
Differences in what can help explain the wage gap between U.S. born and foreign born workers employed in the U.S.?
(a) Gender (b) Schooling (c) Immigration policy (d) All of the above
A movement upward along an upward sloping Engel curve corresponds to
A) upward sloping indifference curves. B) crossing indifference curves. C) a rotation in the budget constraint. D) a parallel shift in the budget constraint.