According to the party cycle theory, recessions
a. will be nonexistent in the near future.
b. are most apt to occur when a liberal president is elected.
c. are most likely to occur during the first couple of years following the election of a conservative president.
d. are here to stay.
C
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In the short run, an increase in government expenditure on goods and services ________ real GDP and ________ the price level
A) increases; rises B) increases; falls C) decreases; rises D) decreases; falls
A monopsony will never pay a wage that is
A) equal to the minimum wage. B) less than the value of marginal product. C) more than the value of marginal product. D) negotiated with the union.
As of October 2012, the value of currency in circulation was about
A) $1.1 billion. B) $11 billion. C) $1.1 trillion. D) $11 trillion.
What separates a sterilized foreign exchange market intervention from an unsterilized intervention?
What will be an ideal response?