Related to the Economics in Practice on p. 418: F. Scott Fitzgerald's The Great Gatsby is set in the "Roaring '20s." This decade in U.S. history was characterized by
A. economic expansion and low unemployment.
B. the Great Depression and stagflation.
C. economic expansion and high unemployment.
D. recession and high unemployment.
Answer: A
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Which of the following factors influence the position of the long-run aggregate supply curve?
A) government spending B) the supply of money C) the level of full-employment output D) taxes
_____________ refers to the health and happiness of the total person, involving body, mind, and spirit and includes measures of life expectancy, health, and education
a. Psychographics b. Well-being c. Positive sociology d. Assimilation
A tax levied on the purchase of a specific good or service is
A) an excise tax. B) a consumption tax. C) a purchase tax. D) a value tax.
Which of the following is not included in Nation A's reserves account in the balance of payments?
a. Changes in official gold holdings. b. The stock official (i.e., central bank) holdings of foreign currencies. c. Increases in borrowing rights at the International Monetary Fund. d. All of the above are included in reserves.