21.

which of the following might be used by government to lower unemployment?Required to answer. Single choice.

Increase taxation

Increase government spending

Increase interest rates

22.When prices rise at an extraordinarily fast rate, it is calledRequired to answer. Single choice.

hypo inflation

hyperinflation

deflation

23.A recession occurs when real GDP ________Required to answer. Single choice.

decreases

increases

24.An example of a transfer payment isRequired to answer. Single choice.

profit

unemployment benefits

rent

25.The GDP deflator, also called the_______________Required to answer. Single choice.

implicit price deflator for GDP

explicit price deflator for GDP

26..........................is the dollar value of all final goods and services produced within an economy in a given period of time.Required to answer. Single choice.

Gross National Product (GNP)

Gross Domestic Product (GDP)

27.If the price level of goods doubledRequired to answer. Single choice.

none of these answers

the quantity demanded of money falls by half

the value of money has been cut by half

28.Keeping in mind the government policy,Cutting the rate of tax is a tool of which policy?Required to answer. Single choice.

Expansionary fiscal policy

Expansionary Monetary policy

Contractionary fiscal policy

29.tight monetary policy aims at preventing inflation by__________Required to answer. Single choice.

expanding money supply

contracting the money supply

30.Inventoryis classified as a ..............on a company's balance sheetRequired to answer. Single choice.

previous assets

current asset