Since 1950, the average length of a recession in the United States has been
A) such that recessions barely exist. B) less than a year.
C) between 1 and 2 years. D) greater than 2 years.
B
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In the short run, a permanent increase in the domestic money supply
A) has stronger effects on the exchange rate and output than an equal temporary increase. B) has stronger effects only on the exchange rate but not on output than an equal temporary increase. C) has weaker effects on the exchange rate and output than an equal temporary increase. D) has stronger effects on output, but lower effect the exchange rate than an equal temporary increase. E) has weaker effects only on the exchange rate than an equal temporary increase.
Which of the following statements about the history of inflation in the U.S. is true?
a. Inflation averaged roughly 2% from 1950-19-65, but has fallen since then. b. Inflation has averaged roughly 2% since 1950. c. Inflation averaged roughly 2% from 1950-1965, rose until the early 1980s, and has fallen slowly since. d. Inflation has gradually climbed since the 1950s.