Contractionary monetary policy should initially change gross investment by ________.
A. enough to reach full employment
B. more than necessary to reach full employment
C. an amount determined by the money multiplier
D. less than necessary to reach full employment
Answer: D
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The production possibilities frontier illustrates
a. the trade-off between efficiency and equality. b. the combination of output that an economy should produce. c. the combination of output that each member of society should consume. d. None of the above is correct.
Law of Supply
What will be an ideal response?
Since 1960, the natural rate of unemployment in the U.S. has been between
a. 0% and 1%. b. 5% and 6%. c. 10% and 12%. d. 12% and 24%.
Which of the following best exemplifies the theorizing step in the scientific process?
A. Observing a line of cars outside of a gas station. B. Suggesting that lower gasoline prices are encouraging consumers to buy more gas. C. Collecting data on the amount of gasoline sold at different prices. D. Drawing a graph of the relationship between gasoline prices and the amount of gasoline sold at each price.