In the 1970s we had _____ recessions and in the 1980s we had _____ recessions.
Fill in the blank(s) with the appropriate word(s).
2; 2
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When a country exports a good, the ________ to consumers is ________ the ________ to producers
A) gain; equal to; loss B) gain; larger than; loss C) loss; larger than; gain D) gain; smaller than; loss E) loss; smaller than; gain
Stock market price quotations are an example of money serving as a(n)
A. unit of accounting. B. store of value. C. medium of exchange. D. economic value.
In general, the greater the elasticity, the:
A. smaller the responsiveness of quantity to changes in price. B. larger the responsiveness of quantity to changes in price. C. larger the responsiveness of price to changes in quantity. D. smaller the responsiveness of price to changes in quantity.
Under the gold standard, a nation with a private balance of payments surplus would experience:
A. higher interest rates, lower inflation, and lower output. B. lower interest rates, higher inflation, and higher output. C. lower interest rates, lower inflation, and lower output. D. higher interest rates, higher inflation, and higher output.