Economic stability refers to the condition of steady growth in national output, with ________ inflation and ________ employment of resources.
A. high; full
B. negative; low
C. no; no
D. low; full
Answer: D
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The fixed exchange rates of the Bretton Woods system were maintained
A) by central bank interventions in the foreign-exchange market. B) by the requirement that short-term interest rates be equalized in all participating countries. C) by the requirement that long-term interest rates be equalized in all participating countries. D) through the automatic workings of the foreign-exchange market.
Economists refer to the simple relationship between consumption and income as
a. autonomous consumption b. the marginal propensity to consume c. the absolute income hypothesis d. disposable income e. the consumption function
Once a monopolistically competitive firm innovates, it is likely that:
A. it will need government protection to earn enough to cover its R & D costs. B. it will enjoy long-run profits. C. other firms will rush to create similar, highly substitutable goods. D. None of these is likely to happen.
Opportunity cost
What will be an ideal response?