At the equilibrium level of real GDP, total production equals total:

Which of the following policies could the Fed use to lower the interest rate?

The Keynesian cause-and-effect sequence predicts that an increase in the money supply will cause interest rates to:

Exhibit 6-3 Unemployment categories Category Workers Frictional unemployment 250 Structural unemployment 350 Cyclical unemployment 600 Discouraged workers 400 Underemployment 450 According to data in Exhibit 6-3 and assuming the total number of workers is 8,400, the unemployment rate is:

An example of structural unemployment is a(n):

Banks normally hold few excess reserves because this practice is:

If the underground economy is sizable, then GDP will:

Which of the following expenditures would not be included in GDP?

Disinflation means a decrease in:

A phase in the business cycle in which the economys real GDP declines is known as: