In 2010, _____ percent of the U.S. population was over the age of 65. By the year 2030, projections place that percentage at _____.
a. 15; 25
b. 18; 30
c. 13; 20
d. 8; 12
e. 10; 16
c. 13; 20
c. 13; 20
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As disposable income decreases, consumption
A. and saving both increase. B. decreases and saving increases. C. and saving both decrease. D. increases and saving decreases.
The ability of the Federal Reserve to use monetary policy to affect economic variables such as real GDP ultimately depends upon its ability to affect
A) nominal interest rates. B) foreign exchange rates. C) real interest rates. D) tax rates.
Assume that the expectation of declining housing prices cause households to reduce their demand for new houses and the financing that accompanies it. If the nation has highly mobile international capital markets and a flexible exchange rate system, what happens to the GDP Price Index and current international transactions in the context of the Three-Sector-Model?
a. The GDP Price Index rises, and current international transactions become more negative (or less positive). b. The GDP Price Index rises, and current international transactions become more positive (or less negative). c. Real GDP Price Index falls, and current international transactions rises. d. There is not enough information to determine what happens to these two macroeconomic variables. e. The GDP Price Index falls, and current international transactions remain the same.
The multiplier principle explains how
A. any change in the economy has a one-time impact. B. $1 invested will increase GDP by more than $1. C. expenditures and incomes decrease as investment increases. D. $1 invested will decrease GDP by less than $1.