If policy makers initiate an increase in the money supply, an increase in government purchases, or a tax cut, it should drive the economy toward a point on the Phillips curve with ______.
a. higher unemployment and higher inflation
b. higher unemployment but lower inflation
c. lower unemployment and lower inflation
d. lower unemployment but higher inflation
d. lower unemployment but higher inflation
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Creating policy with the goal of increasing economic growth would be considered:
A. to indirectly help eliminate poverty. B. to indirectly hurt efforts to eliminate poverty. C. to only help if directed toward poor areas. D. None of these is true.
Which of the following countries have experienced recession and high levels of unemployment related to their inability to control the growth of government and high levels of debt?
a. Greece. b. Portugal. c. Italy. d. all of the above.
Suppose that the price elasticity of demand for mittens is –2.5 . What would happen to the quantity of mittens demanded if the price of mittens rose from $5 to $6? Use the midpoint formula in your calculations
What will be an ideal response?
The effective rate of protection measures
A) the "true" ad valorem value of a tariff. B) the quota equivalent value of a tariff. C) the efficiency with which the tariff is collected at the customhouse. D) the protection given by the tariff to domestic value added. E) the difference between domestic and foreign prices of the import.