A decrease in taxes on business investments will increase aggregate supply.
Answer the following statement true (T) or false (F)
True
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Economists define the short run as a period of time so short that
A) the amount of output cannot be changed except under diminishing marginal returns. B) the amount of output cannot be changed at all. C) only one factor of production can be varied. D) at least one factor of production cannot be varied.
An annually balanced federal budget ________ macro- stabilization policy by requiring ________ fiscal policy during recessions
A) inhibits, tighter B) inhibits, easier C) assists, tighter D) assists, easier
The Erie Canal provided the first reliable and relatively quick east-west link in markets. This link, consequently,
(a) increased profit margins and expanded markets for agriculturalists. (b) increased consumer prices in all markets. (c) increased transportation costs. (d) hindered trade and the accumulation of wealth.
Diamonds are considered:
A. a renewable resource. B. a nonrenewable resource. C. physical capital. D. technology.