An example of the political business cycle in action came during the ________
A) Roosevelt administration of the 1920s
B) Nixon administration of the 1970s
C) Reagan administration of the 1980s
D) Bush administration of the 2000s
B
Economics
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Using the Taylor rule, if the current inflation rate equals the target inflation rate and real GDP equals potential GDP, then the federal funds target rate equals the
A) current discount rate. B) current inflation rate. C) real equilibrium federal funds rate. D) current inflation rate plus the real equilibrium federal funds rate.
Economics
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A
Economics