The Federal Reserve Bank attempted to deal with the sluggish aggregate demand that followed the housing market crash and subsequent financial crisis through:
A. contractionary monetary policy.
B. expansionary fiscal policy.
C. expansionary monetary policy.
D. contractionary fiscal policy.
C. expansionary monetary policy.
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Fiscal policy to solve short-run economic problems supports the Keynesian notion of
A) there being no government role in the economy. B) the need for autocratic rule. C) an active government role in the economy. D) the long-run nature of the economy.
Who of the following are included in the Bureau of Labor Statistics' "employed" category?
a. certain unpaid workers b. part-time workers c. workers on vacation d. All of the above are correct.
Give an example that shows what happens to losses when some firms exit a monopolistically competitive industry.
What will be an ideal response?
At a price of $10, quantity demanded is 30 units. When the price rises to $11, quantity demanded is 24 units. What is the absolute price elasticity of demand?
A) 0.5 B) 0.43 C) 2.33 D) 6.0