Which of the following periods was not characterized by inflation in the U.S. economic history?
a. 1917–1920
b. 1929–1933
c. 1947
d. 1978–1980
e. 1980–1989
b
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The theory of investment that emphasizes the role of expected growth in real GDP on investment spending is known as
A) the theory of animal spirits. B) the accelerator theory. C) real business cycle theory. D) the multiplier theory.
Two countries engaged in trade in products with scale economies, produced under conditions of monopolistic competition, are likely to be engaged in
A) intra-industry trade. B) price competition. C) inter-industry trade. D) Heckscher-Ohlinean trade. E) immiserizing trade.
In the game in Scenario 13.6,
A) "Poison Pill" is a dominant strategy for Lawrence LLP. B) "Dump" is a dominant strategy for Lawrence LLP. C) "TurboTech" is a dominant strategy for ERS Co. D) "ZamboniTech" is a dominant strategy for ERS Co. E) No firm has a dominant strategy.
If output growth exceeds population growth for a country, then:
A.) Average living standards will increase. B.) GDP must have grown at a very rapid rate. C.) Per capita GDP will decrease. D.) This country must have overcome the problem of scarcity.