All recessions are due to external shocks
Answer the following statement(s) true (T) or false (F)
Ans: False
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Cost-push inflation can be shown on an aggregate supply aggregate demand diagram as
A) a rightward shift of the aggregate supply curve with no change in aggregate demand. B) a rightward shift in the aggregate demand curve with no change in aggregate supply. C) a leftward shift in the aggregate demand curve with no change in aggregate supply. D) a leftward shift in the aggregate supply curve with no change in aggregate demand.
The deadline for your research paper is tomorrow and you still need a day of work to complete the paper. Unfortunately, you are scheduled to work all day in the cafeteria. You can turn the paper in one day late for a 10 percent penalty or take the day off of work and turn the paper in by the deadline. Losing a day of wages will cost you $90. The marginal cost of turning the paper in on time is:
A. 10 percent deducted from your final score. B. $90 in forgone wages. C. not getting to lounge around all day. D. the 10% deduction in score and $90 in forgone wages.
In an unfettered free market, price is ____ predictor(s) of an event
A) the best B) only of many C) not a very useful D) a marginal
The portion of the Obama stimulus package that cut taxes is best thought of as
A. discretionary (and contractionary) fiscal policy. B. monetary policy. C. nondiscretionary fiscal policy. D. discretionary (and expansionary) fiscal policy.