Discretionary fiscal policy works by shifting the short-run aggregate supply curve
a. True
b. False
Indicate whether the statement is true or false
False
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Governments sometime create an excess demand for a product by setting a maximum price that is less than the equilibrium price, resulting in a permanent excess demand for the product. This is known as a price floor
Indicate whether the statement is true or false
Most of the increase in the monetary base between 2007 and 2012 was due to increases in:
A) currency B) bank deposits C) excess reserves D) Treasury bills
A positive income elasticity of demand for a good means: a. it is a substitute
b. it is a complement. c. it is a normal good. d. it is an inferior good.
Persons who do not hold a job, but are actively seeking work are considered: a. out of the labor force
b. unemployed. c. unemployable, and not counted in official statistics. d. underemployed.