Stock market bubbles are
A. occurring every 3 to 5 years.
B. an everyday experience.
C. fiction.
D. rare but do occur.
Answer: D
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The economy pictured in the figure has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; A B. recessionary; C C. recessionary; B D. expansionary; A
The demand for money that arises because holding money over short periods is less risky than holding stocks or bonds is called the
A) transactions demand for money. B) opportunity cost demand for money. C) liquidity demand for money. D) speculative demand for money.
The belief that the regulators of the U.S. financial system would not tolerate any losses by depositors at large depository institutions is called
A) the too-big-to-fail doctrine. B) the regulatory capture hypothesis. C) the lender of last-resort doctrine. D) corporate banking system welfare.
A flat tax is
A. A tax system in which tax rates rise as income rises. B. The tax rate imposed on the last dollar of income. C. A tax system in which tax rates are constant. D. A tax system in which tax rates fall as income rises.