An unexpected increase in nonlabor income will have ________ effect on a household's leisure.
A. a positive
B. an uncertain
C. no
D. a negative
Answer: A
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The money demand curve will shift to the left if:
A. the price level increases. B. the nominal interest rate increases. C. the nominal interest rate decreases. D. real income decreases.
If chain-weighted increases in real GDP for 2002-03, 2003-04, 2004-05, 2005-06, and 2006-07 are 5%, 4%, 2%, 1%, and 3% respectively, and nominal GDP in the 2002 base year is $6244.4 billion, then chain-weighted real GDP for 2007 is
A) $6987.02 billion. B) $7,181.06 billion. C) $7235.6 billion. D) $7239.0 billion.
An economic agreement between countries to allow free trade in goods, services, labor, and financial capital between members while having a common external trade policy is called:
a. an economic union. b. a common market. c. a trade forum. d. a free trade agreement.
Suppose that the Federal Reserve Open Market Committee adheres to the ideas expressed by ________
If the economy moves into a recession, the Fed would recommend that the federal funds target rate decrease as long as the inflation rate did not rise above the publicly announced goal for inflation. A) the Taylor Rule B) the gold standard C) the monetarist school of thought D) inflation targeting