Brian’s Innovative Agriculture pays rent to the Tilfords to grow crops in their fields. This is an example of a ______ market.
a. factor
b. labor
c. product
d. stock
a. factor
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A federal policy that leads to an increase in aggregate supply is likely to result in: a. lower levels of employment
b. an increase in aggregate demand. c. a higher price level. d. lower levels of real GDP. e. an economic expansion.
Keynesians think the price level adjusts ________ to restore general equilibrium and they usually use ________ models.
A. quickly; aggregate B. quickly; microfoundations C. slowly; microfoundations D. slowly; aggregate
GATT is the international agreement signed by the United States and ________ other countries in 1947 to promote the liberalization of foreign trade.
A. 13 B. 22 C. 86 D. 97
Which statement best describes the U.S. real GDP?
a. Over the long term, U.S. real GDP have remained relatively steady. b. Over the long term, U.S. real GDP have increased modestly. c. Over the long term, U.S. real GDP have decreased slightly. d. Over the long term, U.S. real GDP have increased dramatically.