For an economy starting at full employment real GDP, an increase in autonomous expenditure results in a(n)
A. increase in full-employment output.
B. decrease in full-employment output.
C. recessionary output gap.
D. inflationary output gap.
Answer: D
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OPEC is an example of a:
A. cartel. B. duopoly. C. monopoly. D. monopsony.
A ________ pays the owner a fixed coupon payment every year until the maturity date, when the ________ value is repaid
A) coupon bond; discount B) discount bond; discount C) coupon bond; face D) discount bond; face
The natural unemployment rate is ________ unemployment rates
A) the sum of the turnover and cyclical B) the sum of the turnover and mismatch C) the sum of the structural and cyclical D) the sum of the structural, cyclical, and frictional E) the cyclical minus the mismatch
The idea that when we own something we value it more than other people do is called:
a. self control b. anchoring c. compartmentalizing d. the endowment effect