Which one of the following was a basic economic conflict between the North and the South in the years preceding the Civil War?
A. The North opposed the high protective tariffs the South supported to protect its manufactured goods.
B. The South opposed the high protective tariffs the North supported to protect its manufactured goods.
C. The North demanded the abolition of slavery.
D. The North opposed the building of a transcontinental railroad.
B. The South opposed the high protective tariffs the North supported to protect its manufactured goods.
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According to the real business cycle model,
A) increases in aggregate demand do not affect GDP. B) increases in aggregate demand lower the price level. C) increases in aggregate demand lower GDP. D) increases in aggregate demand raise GDP.
Refer to Figure 3-4. If the current market price is $15, the market will achieve equilibrium by
A) a price increase, increasing the quantity supplied and decreasing the quantity demanded. B) a price decrease, decreasing the supply and increasing the demand. C) a price decrease, decreasing the quantity supplied and increasing the quantity demanded. D) a price increase, increasing the supply and decreasing the demand.
Which of the following is an accurate definition of correlation?
a. an event that has no effect on another event b. two events that occur separately c. two events that occur together d. an event that causes another event
The Federal Reserve's policy reaction function provides information about:
A. the short-run target for inflation and how aggressively target will be pursued. B. economywide money demand and the output gap. C. the long-run target for inflation and how aggressively targets will be pursued. D. economywide money demand and the long-run target for inflation.