Monetary policy includes adjustments in ________ so as to change ________.
Fill in the blank(s) with the appropriate word(s).
the federal funds rate; aggregate demand
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Which of the following contracts is considered self-enforcing?
a. An assurance provided by a lawyer to his/her client to win a case. b. A futures contract purchased through a NYSE broker. c. An agreement between two oligopolists to follow uniform pricing strategy. d. An agreement between two students to share assignment responsibility.
What does GDP measure to avoid double-counting?
a. final goods and services b. intermediate goods and services c. net exports d. all sales of goods and services
For which of the following time periods did the U.S. have a budget surplus?
a. 1990-1993 b. 1998-2001 c. 2003-2006 d. The U.S. did not have a surplus in any of these time periods.
The average-fixed-cost curve
a. is constant. b. is always decreasing. c. intersects marginal cost at the minimum of average fixed cost. d. intersects marginal cost at the minimum of marginal cost.