Our money supply has _____ basic jobs to perform.
A. one
B. two
C. three
D. four
C. three
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An example of the specificity rule in action is
A. imposing price floors on "clean" products as a way to increase the demand for these products. B. taxing the production of a product whose production creates a great deal of pollution. C. taxing the consumption of a product whose production creates a great deal of pollution. D. restricting imports to reduce environmental pollution.
Inferior goods are always substandard.
Answer the following statement true (T) or false (F)
In the aggregate expenditures diagram, the 45° line represents the equilibrium condition that
A. Y* = Y. B. AE = C + I + G + NX. C. I = C. D. Y = AE.
If the money wage rate and the price level both rise by the same proportion, then in the figure above the potential GDP line ________, and the aggregate supply curve ________
A) shifts rightward; does not shift B) does not shift; shifts rightward C) shifts rightward; shifts rightward D) shifts rightward; shifts leftward E) does not shift; shifts leftward