What does monetary policy do?
(A) It mints new coins and prints bills.
(B) It changes the way that taxes are collected.
(C) It alters the supply of money.
(D) It charters new banks.
Ans: (C) It alters the supply of money.
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Refer to Figure 1A.1. If the hours worked per week are 30, the income per week is
A) 50. B) 100. C) 150. D) 200.
U.S. real GDP per person grew rapidly in the early 1960s. The table above has U.S. real GDP and population for 1961 and 1962
a. What was U.S. real GDP per person in 1961? b. What was U.S. real GDP per person in 1962? c. Between 1961 and 1962, how rapidly did U.S. real GDP per person grow?
A graphic illustration of the cumulative size distribution of income is known as the
A. Okun curve. B. Gini coefficient. C. Size distribution of income. D. Lorenz curve.
Refer to the information provided in Table 22.5 below to answer the question(s) that follow.
Table 22.5
Refer to Table 22.5 If 2014 is the base year, the price index in 2016 is
A. 81.2. B. 86.8. C. 118.8. D. 123.2.