Each of the following took place in the latter half of the 1990s except
A. a declining federal budget deficit.
B. a declining unemployment rate.
C. the spread of computerization.
D. a rising rate of inflation.
D. a rising rate of inflation.
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A decrease in both the equilibrium price and the equilibrium quantity of rice is best explained by a(n):
A. decrease in the supply of rice. B. increase in the demand for rice. C. decrease in the demand for rice. D. increase in the supply of rice.
Which of these policy targets does NOT provide a "nominal anchor?"
A) high-powered money B) the unemployment rate C) the money supply D) the inflation rate
Explain why proponents of supply-side effects of tax rate variations who also believe that tax-rate changes influence aggregate demand might claim that cuts in marginal income tax rates can potentially push up real Gross Domestic Product (GDP) without generating inflation.
What will be an ideal response?
Refer to the tables. If South Cantina is producing at production alternative D, the opportunity cost of the third unit of capital goods will be:
Answer the question on the basis of the following production possibilities tables for two countries, North Cantina and South Cantina:
A. 3 units of consumer goods.
B. 4 units of consumer goods.
C. 5 units of consumer goods.
D. 6 units of consumer goods.