GDP stagnated during the Obama presidency.
Answer the following statement true (T) or false (F)
True
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
In a typical college town, when students go home for the summer, the dem nd for many items such as pizza and In a typical college town, when students go home for the summer, the demand for many items such as pizza and
a. decreases, which is a shift to the left of the demand curves for these goods. b. decreases, which is a shift to the right of the demand curves for these goods. c. increases, which is a shift to the left of the demand curves for these goods. d. increases, which is a shift to the right of the demand curves for these goods.
In the United States since 1960, the price of health care services has increased but the price of health insurance has decreased
Indicate whether the statement is true or false
A decrease in the price of a good or service
a. causes the budget line to rotate inward b. causes a parallel outward shift of the budget line c. means that less of the good can be purchased with a given income d. causes the budget line to rotate outward e. causes a parallel inward shift of the budget line