The Employment Act of 1946 dictated the U.S. goal of maintaining high employment through high economic growth but did not specify any goals with regard to the price level
a. True
b. False
Indicate whether the statement is true or false
False
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The definition of efficiency implies that production is carried out on the production possibilities frontier.
Answer the following statement true (T) or false (F)
If the exchange rate is constant and U.S. imports increase, then in the foreign exchange market the
A) quantity of U.S. dollars supplied increases. B) supply of U.S. dollars increases. C) supply of U.S. dollars decreases. D) demand for U.S. dollars increases. E) quantity of U.S. dollars supplied decreases.
Which of the following always lowers the equilibrium price?
A) an increase in both demand and supply B) a decrease in both demand and supply C) an increase in demand combined with a decrease in supply D) a decrease in demand combined with an increase in supply
Everything else held constant, an increase in net taxes will cause the IS curve to shift to the ________ and aggregate demand will ________
A) right; increase B) right; decrease C) left; increase D) left; decrease