Federal government budget deficits
A. tend to increase when the economy enters a recession.
B. have tended to increase in the majority of years since 1980.
C. have caused a growing national debt.
D. have all of these characteristics.
D. have all of these characteristics.
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According to the quantity theory, in the long run, an increase in the growth rate of ________ leads to an increase in the ________
A) real GDP; inflation rate B) the quantity of money; growth rate of real GDP C) the quantity of money; inflation rate D) real GDP; growth rate of velocity
The LM curve is the combinations of
A) the output gap and the real interest rate for which the money market is in equilibrium. B) the inflation rate and nominal interest rate for which the money market is in equilibrium. C) the inflation rate and real interest rate for which the money market is in equilibrium. D) the inflation rate and real interest rate for which the goods market is in equilibrium.
The market for smartphones did not exist 30 years ago because
A. the technology did not exist to produce smartphones. B. portable electronic devices were illegal. C. smartphones were too expensive for most consumers. D. consumers did not need or want smartphones.
The United Auto Workers is an example of
A) a public-sector union. B) a craft union. C) an industrial union. D) a socialist union.