Refer to Exhibit 6-2. How many persons are unemployed in year 2?
a. 200 million
b. 50 million
c. 75 million
d. 175 million
e. 100 million
Answer: e. 100 million
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When implementing monetary policy, the variable the Federal Reserve watches most closely is the
a. required reserve ratio b. federal funds rate c. long term bond rate d. national debt e. short term corporate bond rate
In the intermediate range of the aggregate supply curve, higher aggregate demand will increase:
A. both the price level and real GDP. B. real GDP without raising the price level. C. the price level without affecting real GDP. D. the price level but reduce real GDP.
NIPA annual revisions usually occur
A. every July. B. every January. C. every October. D. every April.
The AD curve can be shifted by:
A. monetary policy only. B. neither fiscal nor monetary policy. C. fiscal policy only. D. both fiscal and monetary policy.