Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential
B. expansionary; higher; potential
C. recessionary; lower; potential
D. recessionary; lower; lower
Answer: C
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A decrease in price level will
A) shift the planned expenditures curve upward. B) cause a movement up along the planned expenditures curve. C) shift the planned expenditures curve downward. D) cause a movement down along the planned expenditures curve.
During which years did the country have a budget surplus?
A) 2008 and 2009 B) 2012 only C) 2011 only D) 2010 and 2012 E) all except 2011
Oligopolists often use price discrimination to increase economic profit. Which of the following is not considered to be price discrimination?
a. discount admission for children to Disneyland b. senior citizen's bus discounts c. student rates for movie tickets d. "men only" clubs e. paperback and hardcover books
One of the key factors in raising people in low-income countries out of the worst kind of poverty is whether they can
a. receive unemployment compensation. b. attend college or vocational school. c. make a connection to a somewhat regular wage-paying job. d. be protected by labor laws and unions.