Which of the following does NOT affect the position of the DD curve?
A) monetary policy
B) government spending
C) taxes
D) export demand
E) price levels
A
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The poverty threshold income level is
a. an absolute amount that applies to all families equally (i.e., $20,000 household earnings for 2010). b. variable with respect to family size and composition. c. adjusted once each decade, with the census numbers. d. all of the above.
Which of the following will cause no change in producer surplus?
a. the imposition of a nonbinding price ceiling in the market b. buyers expect the price of a good to be higher next month c. the price of a substitute increases d. income increases and buyers consider the good to be inferior
Which of the following occurs when all the resources of an economy are fully employed?
a. efficiency wage model b. frictional unemployment c. natural rate of unemployment d. potential output
If at the prevailing interest rate the quantity of money demanded is $2 trillion, and the supply of money is $1.5 trillion, then which of the following istrue?
a. There is a shortage of money, and consequently interest rates must fall in order to achieve an equilibrium in the money market. b. There is a surplus of money, and consequently interest rates must fall in order to achieve an equilibrium in the money market. c. There is shortage of money, and consequently interest rates must rise in order to achieve an equilibrium in the money market. d. There is a surplus of money, and consequently interest rates must rise in order to achieve an equilibrium in the money market.