Individual consumers supply ________ and purchase ________.
A. intermediate goods; final goods and services
B. final goods and services; factors of production
C. factors of production; final goods and services
D. national goods and services; factors of production
Answer: C
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The monetary policy strategy that directly ties down the price of internationally traded goods is
A) exchange-rate targeting. B) monetary targeting. C) inflation targeting. D) the implicit nominal anchor.
In Figure 15-2 above, the difference between consumption levels at point A and point B is equal to
A) the long run MPC times the change in disposable income. B) the short run MPC times the change in disposable income. C) (Y0 - Y2 ) times the short run change in income. D) the long run change in income times (Y0 - YP).
Which of the following correctly describes the condition that generates the equilibrium levels of price and aggregate output in the economy?
a. When the U.S. budget is balanced b. When aggregate quantity demanded is maximized c. When aggregate supply minus aggregate demand equals the price level d. When aggregate demand equals aggregate supply
Which of the following is the best example of causation? (versus correlation)?
A. Oil prices go up and gasoline prices go up. B. Women's skirts get shorter and the stock market goes up. C. The groundhog sees its shadow and winder lasts longer. D Ice cream sales and the number of drownings.