Keynes called the money people hold in order to pay unforeseen or unexpected expenses the:

What happens when there is a sudden increment or decline in the supply of a specific product which affects equilibrium?

a. Capital flight b. Economic equilibrium c. Elasticity of supply d. Supply shock

In 1981, the Reagan administration employed a policy that included tax ____ while at the same time the Federal Reserve's strategy was to combat ____

a. cuts; unemployment b. cuts; inflation c. hikes; unemployment d. hikes; inflation