The origin of a graph is the intersection of the two axes, where the value of both variables is zero
Indicate whether the statement is true or false
TRUE
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When cost-push inflation starts, real GDP ________ and the unemployment rate ________
A) decreases; falls B) does not change; falls C) decreases; rises D) does not change; does not change E) increases; falls
Which of the following claims is true at each point along a price-consumption curve?
A) Utility is maximized but income is not all spent. B) All income is spent, but utility is not maximized. C) Utility is maximized, and all income is spent. D) The level of utility is constant.
One reason the housing bubble occurred is because:
A. the recency effect caused homes to typically be undervalued. B. the herd instinct caused everyone to believe home prices would continue to fall. C. securitization removed much of the risk from the sellers of subprime mortgages. D. All of these statements are true.
If the Fed wishes to increase the money supply it could
a. decrease the discount rate. b. decrease reserve requirements. c. buy government securities on the open market. d. Do any of the above.