Expansionary policy only leads to inflation, but does not raise output in ________
A) traditional Keynesian theory
B) new Keynesian theory
C) real business cycle theory
D) traditional Keynesian, new Keynesian and real business cycle theory
C
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Refer to Table 8-18. What is real GDP in 2016, using 2011 as the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275
The highest rate of U.S. growth was recorded in which of the following periods?
A) 1948-73 B) 1967-83 C) 1974-95 D) 1996-2008
A likely consequence of debt default is: a. a decrease in the federal cost of borrowing
b. an increase in unemployment due to growing uncertainty. c. a sudden decline in the market interest rates. d. an increase in the credit flows in an economy. e. a sudden increase in the investment flows in the economy.
Variable tolls on roads
a. are politically unpopular because people do not like the idea of paying for a good that they used to consume without paying for it directly. b. rise when traffic volume increases to ensure the speed on the road is kept high. c. are an effective way of correcting the common resource problem on roads. d. All of the above are correct.