The tax cuts of 2008 and 2009 were effective because consumers believed that they were temporary
a. True
b. False
Indicate whether the statement is true or false
False
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Monetarists believe in all of the following except
a. steady growth in inflation will yield stable output. b. steady growth in the money supply will yield stable output. c. fluctuations in the money supply are responsible for business cycles. d. the Fed should not be involved in trying to stabilize the economy.
What are the predictions for the long run equilibrium of the Monetary Approach?
What will be an ideal response?
If the percentage change in the quantity demanded of a good is greater than the percentage change in the price of the good, then the demand for the good is _____
a. inelastic b. relatively elastic c. unit-elastic d. perfectly inelastic e. income elastic
Which of the following statements is false?
A) For purposes of computing GDP, the purchases of new residential housing are considered investment although it is undertaken by the household sector. B) Consumption includes spending on durable goods but not spending on services. C) Investment includes fixed investment but not inventory investment. D) b and c