The welfare program economists believe to be most compatible with economic efficiency is
A. a regressive tax system.
B. AFDC.
C. a negative income tax.
D. Medicare/Medicaid.
Answer: C
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In the figure above, if real GDP is $10 trillion, aggregate planned expenditure is
A) equal to $10 trillion and there are no unplanned inventory changes. B) less than $10 trillion and unplanned inventory changes are positive. C) equal to $10 trillion and unplanned inventory changes are negative. D) more than $10 trillion and unplanned inventory changes are negative. E) equal to $10 trillion and unplanned inventory changes are positive.
In the figure above, the shift in the demand curve for U.S. dollars from D0 to D1 could occur when
A) the expected future exchange rate decreases. B) the U.S. interest rate rises. C) people expect that the dollar will depreciate. D) foreign interest rates increase.