The period from 1983 to 1990 was characterized by
a. decreasing budget deficits and increasing trade surpluses.
b. persistently high inflation.
c. below average rates of real GDP growth.
d. consistent growth of real GDP and decreasing rates of inflation.
d
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Explain the term "labor hoarding."
What will be an ideal response?
Marginal cost refers to the increase in cost attributable to hiring one more unit of labor, capital, or some other input
Indicate whether the statement is true or false
Which of the following is FALSE? All the BRICs
A) rank among the world's top 10 in population. B) have been transformed by reforms. C) have become more isolated and focused on domestic issues. D) are among the world's top 11 economies. E) have yet to fully realize their economic potential.
Is there any way to conduct fiscal policy and avoid the lags involved with discretionary policy?