Policies to lower the price level of goods in the nation are a concern of:
a. macroeconomics.
b. microeconomics.
c. both microeconomics and macroeconomics.
d. political science.
a
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Was the money multiplier stable during the Great Recession? Why would an unstable money multiplier pose a problem for monetary policy?
What will be an ideal response?
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
If a supplier faces a perfectly horizontal demand curve and sets his price slightly higher than the demand curve itself, he can expect:
a. no change in his total revenues. b. everyone to begin buying his product. c. a complete loss of revenues. d. a new demand curve. e. a relative increase in income.
The United States has less income inequality than most other developed countries.
Answer the following statement true (T) or false (F)