According to the "rational expectations" school of thought in macroeconomics, the short-run Phillips curve is ________ in face of unanticipated changes in monetary policy
A) negatively sloped B) vertical C) positively sloped D) horizontal
A
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The larger the marginal propensity to consume
A) the smaller the multiplier is. B) the larger the multiplier is. C) the smaller autonomous consumption is. D) the larger the marginal propensity to save is.
Refer to Table 5.1. What is Hector's opportunity cost of producing one bracelet?
A) 1/5 of a tiara B) 1.5 tiaras C) 5 tiaras D) 6 tiaras
Refer to Figure 21.1. The middle 20% of the population earn ________ of total income
A) 16% B) 23% C) 28% D) 32%
Everything else held constant, in the market for reserves, when the federal funds rate is 3%, lowering the interest rate paid on excess reserves rate from 2% to 1%
A) lowers the federal funds rate. B) raises the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect on the federal funds rate.