During the ________ output ________ its natural level
A) late 1990s, exceeded
B) 1960s, deviated relatively little from
C) early 1980s, tended to exceed
D) all of the above
A
You might also like to view...
If a household has a husband, wife, and two kids, has a standard deduction of $12,600, has itemized deductions of $6,650, and personal exemptions of $16,000 (4*$4,000), then the first ________ of income is federal income tax free.
A. $20,650 B. $28,600 C. $13,250 D. $34,250
An increase in the real exchange rate will tend to ________ exports and to ________ imports.
A. increase; decrease B. decrease; increase C. decrease; decrease D. increase; increase
In the long run, if price is less than average cost
A) there is an incentive for firms to exit the market. B) there is no incentive for the number of firms in the market to change. C) there is profit incentive for firms to enter the market. D) the market must be in long-run equilibrium.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD1 the result in the long run would be:
A. P4 and Y1. B. P4 and Y2. C. P5 and Y1. D. P5 and Y2.