During the financial crisis of 2007-2009, both fiscal and monetary policy turned more expansionary
a. True
b. False
Indicate whether the statement is true or false
True
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A real estate salesperson sells a house in 1999 that was built in 1990. How does this transaction get counted in the GDP statistics?
What will be an ideal response?
The emergence of English as the de facto world language ________ a comparative advantage in the production of books, movies and popular music.
A. has given all countries B. has given non-English-speaking countries C. has no effect on which country has D. has given English-speaking countries
People tend to hold more money as _______ and ______ rise; they tend to hold less as ________ and __________ rise.
Fill in the blank(s) with the appropriate word(s).
In which of the following situations for a mixed open economy will the level of GDP expand?
A. When I g + X + G exceeds S a + M + T. B. When S a + T + M exceeds I g + G + X. C. When GDP exceeds C a + I g + G + X n . D. When I g + M + T exceeds C a + X + S.