Expansionary monetary policy involves actions that:
A. reduce the money supply in order to decrease aggregate demand.
B. increase the money supply in order to decrease aggregate demand.
C. reduce the money supply in order to increase aggregate demand.
D. increase the money supply in order to increase aggregate demand.
D. increase the money supply in order to increase aggregate demand.
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If the price elasticity of demand for opera tickets in Orlando is 1.00, then the demand for opera tickets in Orlando is
A) unit elastic. B) elastic. C) perfectly inelastic. D) inelastic. E) perfectly elastic.
Explain the difference between positive economics and normative economics
What will be an ideal response?
According to the Phillips Curve, which of the following may have taken place if both the unemployment rate and inflation have risen?
A) a negative supply shock B) an increase in expected inflation C) a severe recession D) a negative demand shock
Which one of the following persons would be considered unemployed?
a. A person not working who has given up searching for a job. b. A part-time worker looking for a full-time job. c. A construction worker who was laid off due to cold weather. d. A full-time college student who is not a member of the labor force.