The market supply curve of capital is
a. upward sloping
b. perfectly inelastic
c. upward sloping at first but then bends backward
d. downward sloping
e. perfectly elastic
A
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Why is per-capita U.S. currency demand so large? Who is holding large amounts of U.S. currency and why are they doing so? Should U.S. policymakers be concerned about this? Why?
What will be an ideal response?
An exogenous rise in government expenditures will have the same effect on GDP as an equal rise in either autonomous ________ or autonomous ________
A) consumption; investment B) taxes; consumption C) savings; investment D) taxes; investment
The term “recession” refers to a
a. period of decline in real GDP over two consecutive quarters. b. fall in the general level of real wages over two consecutive quarters. c. fall in the CPI over two consecutive quarters. d. fall in the rate of increase of real per capita GDP.
Which of the following increases U.S. aggregate demand?
a. a lower price level, increasing citizen's real wealth b. a lower price level, reducing interest rates c. a lower price level, increasing exports and decreasing imports d. an increase in Americans' expected future incomes