The duration of an expansion is measured from:
A. trough to trough.
B. peak to peak.
C. peak to trough.
D. trough to peak.
Answer: D
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The consumer price index (CPI) was 180 for 2009 when using 1995 as the base year (1995 = 100). Now suppose we switch and use 2009 as the base year (2009 = 100). What is the CPI for 1995 with the new base year?
A) 18.0 B) 55.6 C) 80.0 D) 111.2
According to the Keynesian model, the government can increase spending or cut taxes to close a recessionary gap
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true of sharecropping?
a. It is an inefficient arrangement if the work of the farmer is not monitored. b. The higher the profit to the landowner, the higher the share of the farmer. c. Both the farmer and the landowner will work to maximize farm profits. d. The higher the profit to the landowner, the lower the share of the farmer.
The MPC shows the relationship between:
a. interest rates and investment. b. disposable income and consumer spending. c. saving and investing. d. inflation and unemployment