Which of the following has been one of the most productive sectors of the U.S. economy through the 19th, 20th and 21st centuries?
A. Textiles
B. Steamships
C. Steel
D. Agriculture
D. Agriculture
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If the Fed engages in quantitative easing, it has likely
A) started paying interest on required reserves. B) increased the federal funds rate by selling private securities. C) increased the discount rate to prevent inflation. D) decreased the discount rate by selling its own securities. E) decreased the federal funds rate to almost zero by buying large sums of securities.
Which of the following statements is (are) correct? According to real business cycle theory,
a. the desirable monetary policy would appear to be one that results in a slow steady growth in the money supply and, thus, stable prices. b. there is some role for activist monetary stabilization policy of a Keynesian type. c. changes in aggregate demand cannot impact output. d. Both a and b e. Both a and c
Contractionary fiscal policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) lower; lower B) lower; higher C) higher; higher D) higher; lower
An increase in the proportion of the population that is unemployed above the normal rate is best represented in Figure 1.3 and using PP1 by a movement from point
A. E to point D. B. C to point D. C. C to point A. D. D to point C.