In the face of the 2007-2009 recession, the President, Congress, and the Fed
a. decided to rely on the self-correcting mechanism of the economy to eliminate inflation.
b. decided to rely on the self-correcting mechanism of the economy to reduce unemployment.
c. pursued an active policy to balance the budget and fight inflation.
d. pursued an active policy to expand aggregate demand.
d
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According to the law of demand, an increase in the price of a good causes
A) a rightward shift of the demand curve for that good. B) a leftward shift of the demand curve for that good. C) an upward movement along the demand curve for that good. D) a downward movement along the demand curve for that good.
In the last 15 years, the U.S. Lorenz curve has
a. become a straight line b. become a decreasing curve c. moved closer to the diagonal d. moved further from the diagonal e. not shifted but there has been an upward movement along the curve