Refer to Figure 28-2. At which point are inflation expectations equal to the actual inflation rate?
A) A B) B C) C D) all of the above
A
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According to the Application, economist John B. Taylor found that the aid to state and local governments which were a part of the 2009 stimulus package were used primarily to
A) increase spending on transfer programs, goods, and services. B) increase spending on goods and services. C) increase spending on transfer programs, but spending on goods and services declined. D) increase spending on infrastructure, but spending on transfer programs declined.
How many years did it take the stock market to recover to the value it had been in September 1929? A. 3 years
A. 3 years B. 10 years C. 25 years D. 54 years
In the arena of trade policy, the battle often seems to be between ________ laws that increase protectionism and ________ agreements that try to reduce protectionism.
a. national; national b. international; international c. national; international d. international; national
Which of the following statements about economic models is correct?
a. Economic models are built to mirror reality exactly. b. Economic models are useful, but they should not be used for the purpose of improving public policies. c. Because economic models omit many details, they allow us to see what is truly important. d. Economic models seldom incorporate equations or diagrams.