Suppose we claim that the rapid economic growth in Barylia can be attributed to the culture hypothesis. Which of the following statements is most likely to be concluded from this claim?
A) Barylia must have large stocks of productive natural resources.
B) Institutions in Barylia must have been inclusive.
C) Barylia must have a huge stock of physical capital.
D) The local people in Barylia must be socially inclined to work hard.
D
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Explain how the aggregate demand curve is related to the C + I + G + X curve
What will be an ideal response?
An elastic supply is one in which the elasticity is greater than:
a. two. b. four. c. one. d. three.
A shift in demand occurs when
A. the price of that good changes. B. the price changes and the good is a normal good. C. the amount demanded of a good changes at each existing price. D. there is a change in quantity demanded.
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline