If disposable income were to rise from $4,000 to $5,000
A. induced consumption would fall.
B. induced consumption would stay the same.
C. induced consumption would rise.
D. there is not enough information to determine whether induced consumption would rise, fall or remain the same.
C. induced consumption would rise.
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According to Simon Kuznet's (1958) research, the pattern of immigration in 1865–1914
(a) showed long swings but not the short-term business cycle fluctuations. (b) showed no long swings in the 1820–1860 period, but did show the business cycle. (c) showed both business cycle patterns and long swing patterns. (d) unlike 1820–1860, showed neither short cycles nor long swings, but was instead a steady surge after the Civil War ended.
Prior to the Civil War (1861–1865) American capitalism was free from government influence and controls. The government only served as the protector of private property rights and the provider of national defense
Indicate whether the statement is true or false
Fiat money is
a. always backed by gold or silver. b. useful in buying Italian cars. c. only backed by government decree. d. not as liquid as precious metals.
Cyclical unemployment is:
A. the effect of wages remaining persistently above the market-clearing level. B. unemployment caused by short-term economic fluctuations reflected in GDP growth. C. unemployment caused by workers who are changing their location, job, or career. D. unemployment resulting from a mismatch between the skills workers can offer and the skills demanded.