An example of in-kind assistance to the poor is TANF
a. True
b. False
Indicate whether the statement is true or false
False
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How consistent is the Keynesian consumption function with the random walk hypothesis?
What will be an ideal response?
The Fed shifted from emphasizing the importance of a target interest rate to emphasizing the importance of a target money supply in order to
a. combat inflation in the economy b. combat unemployment in the economy c. spur economic growth in the economy d. create a better balance of trade for the economy e. combat deflation in the economy
Suppose an economy is operating at its maximum sustainable output rate. Neither recession nor economic boom are present. Which of the following would be true?
a. The economy would be considered at full employment. b. Actual GDP would exceed potential GDP. c. Actual unemployment will be less than the natural rate of unemployment. d. One hundred percent of the labor force is employed.
Suppose Smith pays $100 to Jones.
a) We can say with certainty that the GDP has increased by $100. b) We can say with certainty that the GDP has increased, but we cannot determine the amount. c) We can say with certainty that the nominal GDP has increased, but we can't say whether real GDP has increased or decreased. d) We need more information to determine whether GDP has changed.