Until the year 2000, the Humphrey-Hawkins Act directed the Fed to pursue all of the following, except
A) maximum employment.
B) price stability.
C) high economic growth.
D) moderate long-term interest rates.
C
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Which of the following is an example of a positive externality (additional social benefit)?
A. an increase in the value of land you own when a nearby development is completed B. falling property values in a neighborhood where a disreputable nightclub is operating C. the costs paid by a company to build an automated factory D. the higher price you pay when you buy a heavily advertised product
Explain the concept of diminishing returns
What will be an ideal response?
The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Aggregate planned expenditure is less than actual expenditure if real GDP is
A) less than $700 billion. B) more than $800 billion. C) $800 billion. D) less than $800 billion. E) more than $700 billion.
Wages in American industry are very high because of wage laws
a. True b. False Indicate whether the statement is true or false