The expansion of Social Security in 1956 added _____
a. cash benefits to surviving dependents
b. disability insurance to those in the program
c. medical benefits to those over 65
d. medical benefits to surviving dependents
b
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If the public believes that the commitment to a nominal anchor is not credible, the effect of a positive aggregate demand shock is for ________
A) short-run aggregate supply to shift down B) short-run aggregate supply to remain unchanged C) short-run aggregate supply to shift up D) inflation, but not economic activity, to increase
After a hurricane, several gas stations decide to keep their gas prices at the prehurricane level. An economist who most likely believes that there has to be some rational reason for this behavior is more than likely a(n):
A. engineering economist. B. irrational economist. C. traditional economist. D. Keynesian economist.
In Table 17.3, the United States has 
A. an absolute and comparative advantage in both goods. B. an absolute and comparative advantage in lumber. C. an absolute and comparative advantage in cars. D. an absolute advantage but not a comparative advantage in lumber.
The expected real interest rate is equal to
A) the nominal interest rate minus the expected rate of inflation. B) the nominal interest rate plus the expected rate of inflation. C) the nominal interest rate minus the actual rate of inflation. D) the nominal interest rate plus the actual rate of inflation.