Daily fantasy is legal
A. everywhere.
B. nowhere.
C. as long as it is on the internet.
D. in some states and illegal in others.
Answer: D
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Refer to Figure 3-4. If the price is $10
A) there would be a surplus of 600 units. B) there would be a surplus of 200 units. C) there would be a shortage of 200 units. D) there would be a shortage of 600 units.
If nominal gross domestic product (GDP) for a particular year is $6 trillion and real gross domestic product (GDP) for that year is $5 trillion, then the GDP price index for that year is _____
a. 1.2 b. 17 c. 20 d. 83 e. 120
If unemployment is the most significant problem in the economy, which of the following actions would be an appropriate fiscal policy response?
a. decrease taxes b. decrease government purchases c. decrease the federal deficit d. all of the above
The money supply decreased and the AD curve shifted to the left. This is consistent with the
A) Keynesian transmission mechanism when there is neither a liquidity trap nor interest-insensitive investment. B) monetarist transmission mechanism. C) Keynesian transmission mechanism when there is a liquidity trap. D) Keynesian transmission mechanism with interest-insensitive investment. E) a and b