During the financial crisis associated with the Great Recession, the interest rate spread between Treasury bills and bank-to-bank lending increased substantially
a. True
b. False
Indicate whether the statement is true or false
False
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Business cycles are the result of
A) regular shifts of the AD curve only. B) irregular shifts of the SAS curve only. C) regular shifts of both the AD and SAS curves. D) irregular shifts of both the AD and SAS curves.
Refer to Figure 7-1. Suppose the government allows imports of leather footwear into the United States. What will the market price be?
A) > $24 B) $24 C) $30 D) $54
When a good is nonexcludable, then individuals
A. will purchase the good for more than what it cost to produce the good. B. can obtain the benefits of the good without paying for it. C. have an incentive to become free riders. D. will purchase more than the optimum amount. E. b and c
Which of the following is true?
a. In 1916, the per person real government expenditures were approximately 60 times greater than in 1800. b. Prior to 1929, government expenditures at the state and local levels were substantially smaller than federal expenditures. c. Real federal spending per person was approximately 80 times greater in 2012 than in 1916. d. All of the above are true.