The central difference between the structural stagnation hypothesis and the secular stagnation theory is that:
A. structural stagnation applied in the 1940s, and secular stagnation applies today.
B. structural stagnation focuses on globalization, while secular stagnation focuses on declining investment.
C. structural stagnation focuses on declining investment, while secular stagnation focuses on globalization.
D. structural stagnation is a hypothesis, while secular stagnation is a theory.
Answer: B
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In foreign exchange markets, a U.S. resident who imports New Zealand apples is:
a. a demander and supplier of New Zealand dollars. b. a demander and supplier of U.S. dollars. c. a demander of New Zealand dollars and a supplier of U.S. dollars. d. a supplier of both New Zealand dollars and U.S. dollars. e. a supplier of New Zealand dollars and a demander of U.S. dollars.
The commercial air travel industry and the wireless service industry illustrate which type of market structure?
a. Oligopoly b. Natural monopoly c. Duopoly d. Perfect competition
If the MRP per dollar is greater for labor than that for tools, a producer should spend more money on labor than originally planned and less on tools. How long can he continue this switch in spending? Why?
In the short-run Keynesian model, to close a recessionary gap of $1 billion dollars government purchases must be:
A. increased by more than $1 billion. B. increased by $1 billion. C. increased by less than $1 billion. D. decreased by $1 billion.