Which of the following has not been promoted by HPAE?
A) Large job creation in the government sector
B) Land reform
C) Free basic health care
D) Significant investments in rural infrastructure
A
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Expansions of aggregate demand cause the economy to move along what is essentially a vertical aggregate supply curve when
A) wage increases catch up to inflation. B) higher prices can reduce interest rates no further. C) money supply growth rises to equal the rate of aggregate demand expansion. D) from a recession level of output, full employment is reached.
Simplicity and fruitfulness are virtues when it comes to judging
a. normative economics b. economic models c. positive economics d. consumer sovereignty e. market performance
The value of the money multiplier will depend on the rate of interest that banks charge
a. True b. False Indicate whether the statement is true or false
In the United States, the wealthiest 10 percent of households earns approximately what share of total income?
A. 5% B. 80% C. 30% D. 10% E. 50%