Which of the following groups of economic forecasters have been able to forecast "turning points" when the economy turned up or down?
A) forecasters at the Fed
B) forecasters in branches of the government other than the Fed
C) forecasters at private firms
D) none of the above
E) all of the above
D
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Exports minus imports equals net exports.
Indicate whether the statement is true or false
If consumers respond to a 10% price reduction by buying twice as much of a particular good, we would conclude that:
A. the price elasticity of demand at the original price was less than one. B. the price elasticity of demand at the original price was greater than one. C. there was excess demand at the original price. D. there was excess supply at the original price.
The following national income data for an economy are in billions of dollars
Refer to the above data. The net private domestic investment in this economy is equal to:
A.
$1,793 billion
B.
-$424 billion
C.
$200 billion
D.
$1,643 billion
If government purchases increase and as a result push current output above potential output, monetary policymakers are likely to:
A. purchase Treasury securities. B. raise the real interest rate. C. lower the real interest rate. D. keep the real interest rate constant and focus on only changing the nominal interest rate.