It is estimated that if the inflation rate is lowered from 3 percent a year to 0 percent a year, the growth rate of real GDP will rise by ________ percentage points a year

Utility is

A) the consumption of a quasi-public good like electricity or natural gas. B) easily measured in units called utils. C) the production of a quasi-public good like electricity or natural gas. D) subjective and difficult to measure.

Answer the following questions true (T) or false (F)

1. Contractionary fiscal policy actions will lead to a decline in farmland values and farm equity as net farm incomes decline. 2. Exports are financially recorded as negative entries in the balance of payments since the products leave the U.S. 3. An increase in U.S. interest rates would cause a decrease in the demand for U.S. dollars.