Unconventional monetary policies include massive lending to banks and open-market purchases of assets other than Treasury bills.
Answer the following statement true (T) or false (F)
True
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National health care programs are not as effective as they could be because:
A. health care providers tend to have a low absentee rate. B. public health care clinics often run out of important drugs. C. doctors rarely diagnose below their knowledge frontier. D. many doctors in clinics do not have sufficient knowledge to properly diagnose patients.
Business cycles in the United States
A. Are similar in frequency and intensity. B. Are remarkably similar in length but vary greatly in intensity. C. Are similar in length, frequency, and intensity. D. Vary greatly in length, frequency, and intensity.
Figure 34-7
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In Figure 34-7, AB represents the production possibilities of Pestoland and CD that of Pastaland. The graph indicates Pestoland has an absolute
A. advantage in both pesto and pasta. B. and comparative advantage in both pesto and pasta. C. advantage in both goods, but a comparative advantage only in pesto. D. advantage in pesto only and a comparative advantage only in pasta.
Suppose a recession occurs as a result of a negative supply shock, and instead of the economy naturally working its way back to equilibrium, the government uses policy to shift the aggregate demand curve to fight the recession. Using policy this way would
A) bring real GDP back to potential GDP more quickly but would result in a permanently higher price level. B) bring real GDP back to potential GDP more slowly but would bring the price level back to the original price level more quickly. C) quickly result in a new, higher level of real GDP and a permanently lower price level. D) bring the price level back to its original level more quickly but would result in a permanently lower level of potential GDP.