The amount by which an aggregate expenditures schedule must shift upward to achieve the full-employment GDP is a(n):
A. Inflationary expenditure gap
B. Recessionary expenditure gap
C. Expenditure multiplier gap
D. Negative net export gap
B. Recessionary expenditure gap
Economics
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The group responsible for deciding on monetary policy is the
A) Federal Advisory Council. B) Board of Governors only. C) Federal Open Market Committee. D) group of 12 Federal Reserve Bank presidents only.
Economics
Which of the following is NOT true for a perfectly competitive firm in the long run?
A) MR = MC B) MC > LAC C) Price = MC D) SAC = LAC
Economics