_________________is arbitrary year whose value as an index number economists define as 100Select one: a. Real GDP b. Base year c. Current year d. Nominal year

____________________ measure of inflation based on the prices of merchandise that are exported or imported.Select one: a. Core inflation index b. Producer price index c. International price index d. GDP deflator

Goods or services bought by a firm as components to produce final goods will not be considered final goods. This type of good or service is known as an: a. Intermediate good b. Final services c. Final good d. Input

A typical ____________________________ fiscal policy allows government to decrease the level of aggregate demand, through increases in taxes.Select one: a. expansionary b. discretionary c. contractionary d. standardized

______________________ measure of inflation based on prices paid for supplies and inputs by producers of goods and services.Select one:a. International price index b. Core inflation index c. Producer price index d. GDP deflator

When the central bank lowers the reserve requirement on deposits: Select one: a. the money supply and interest rates decrease. b. the money supply and interest rates increase. c. the money supply increases and interest rates decrease.d. the money supply decreases and interest rates increase

The value or price of one currency in terms of another currency is known as Select one: a. Currency. b. Base price c. Price values d. Exchange rate

Which of the following is true? Select one: a. Depression is a recession that is mild and relatively brief. b. The timing of business fluctuations is regular and therefore easily predictable. c. The expansions and contractions of real-world business cycles last varying lengths of time and often differ in magnitude. d. During the contractionary phase of the business cycle, the rate of unemployment is generally quite low

In macroeconomics, a _______________ describes the common way in which market values are measured in an economy.Select one:a. unit of account b. unit of exchange c. medium of exchange d. store of value

Aggregate demand (AD) refers to____________________Select one: a. the amount of total spending on domestic goods in an economy. b. the amount of total spending on goods and services in an economy. c. the amount of total spending on domestic services in an economy. d. the amount of total spending on domestic goods and services in an economy.

The___________ is a small category that refers to the goods produced by one business that has yet to be sold to consumers, and are either still sitting in warehouses and on store shelves.Select one:a. Durable goods b. Inventories c. Services d. Structures

A ______________________ means that government spending and taxes are equal.Select one: a. contractionary fiscal policy b. fiscal budget c. discretionary fiscal policy d. balanced budget

Shift / change in aggregate demand influence by _____________, __________, _____________Select one: a. Expectations, good market and monetary policy and the world economy b. Expectations, Fiscal policy and monetary policy and the world economy c. Expectations, price level and monetary policy and the world economy d. Expectations, total spending and price level

According to _____________________, demand creates its own supply.Select one: a. Classica lb. Law c. Neoclassical d. Keynesian Law