If the Fed buys more bonds from the public, then the money supply will:
A. Decrease and the aggregate demand curve will shift to the right.
B. Increase and the aggregate demand curve will shift to the right.
C. Increase and the aggregate demand curve will shift to the left.
D. Decrease and the aggregate demand curve will shift to the left.
C. Increase and the aggregate demand curve will shift to the left.
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Which of the following would not be included in the calculation of this year's GDP?
A) a headlight bulb purchased at Joe's Auto Supply by Olivia to replace a burnt out bulb in her car B) a headlight bulb purchased by Ford Motor Co. from a supplier C) a headlight bulb produced but not sold this year and thus ending up as inventory D) none of the above, i.e., all would be included
The primary advantage to selling pollution permits rather than using a fixed percent reduction for all firms is that:
A. enforcement costs are eliminated. B. the government can raise additional revenue. C. pollution reduction is accomplished in the least costly way possible. D. pollution is driven to zero.
In the early 2000s, Chinese officials indicted members of a forgery syndicate that sold several hundred diplomas to high school graduates who needed the diplomas to take employment tests. This situation, where having the certificate of knowledge is more important than the knowledge itself, is known as:
A. the brain drain. B. human capital. C. certification. D. credentialism.
Short-run movements along the Phillips curve
a. remind us of the dangers of confusing various types of unemployment b. may determine long-run shifts of the same curve c. are usually brief and dramatic d. respond to different assumptions about consumer confidence e. lead to long-run movements along the same curve