Which of the following does not help to explain why politicians might hesitate to balance the budget in an election year?
A. The inflation rate might rise.
B. The economy could be pushed into recession.
C. Many people might lose income transfers.
D. Voters might become unemployed.
Answer: A
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Select the phrase that correctly completes the following statement. "A decrease in the number of manufacturers caused a decrease in the supply of sailboats. As a result,
A) the price of sailboats increased and the demand for sailboats decreased." B) the equilibrium quantity of sailboats increased." C) the price of sailboats increased. The higher price caused the supply of sailboats to increase." D) the price of sailboats increased and the quantity of sailboats demanded decreased."
For the period 1947-2012, employment in the United States was
A) procyclical and leading. B) procyclical and lagging. C) countercyclical and leading. D) countercyclical and lagging.
The more time people have to adjust to a price change:
A. the less elastic their demand will be. B. will not affect the elasticity of their response unless it is a luxury good. C. the more elastic their demand will be. D. will not affect the elasticity of their response unless the good is a necessity.
The interest rate charged by the Fed to member banks is called the _____
Fill in the blank(s) with correct word