If there is a recessionary gap, the appropriate fiscal policy would be contractionary.
a. true
b. false
Ans: b. false
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Summarize the history of how the Federal Reserve came to have twelve districts
An inverse relationship exists when:
A. there is no association between two variables. B. one variable increases and there is no change in the other variable. C. one variable increases and the other variable increases. D. one variable increases and the other variable decreases.
In which of the following conditions is the inflation rate likely to rise and the unemployment rate likely to fall?
A. stagflation B. boom C. recession D. hyperinflation
Refer to the given data. Assuming the prices of resources a and b are $5 and $8 respectively, what is the least costly combination of resources for the firm to employ in producing 192 units of output?
Answer the question on the basis of the following marginal product data for resources a and b. The output of these independent resources sells in a purely competitive market at $1 per unit.
A. 2 of a and 6 of b.
B. 6 of a and 2 of b.
C. 4 of a and 3 of b.
D. 3 of a and 4 of b.