Read the following statements and determine if they are true or false
I. According to the quantity theory of money, an increase in the growth rate of the quantity of money increases inflation in the long run.
II. Historical and international data show that there is no correlation between inflation and money growth.
A) I and II are both true.
B) I and II are both false.
C) I is true and II is false.
D) I is false and II is true.
C
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The cycle of increased market demand that leads to ________ and then a(n) ________ in the market supply curve has caused many firms bankruptcy.
A) underexpansion; decrease B) underexpansion; increase C) overexpansion; decrease D) overexpansion; increase
More than 70 percent of national income is attributed to
a. compensation of employees b. rental income c. corporate profit d. net interest e. proprietors' income
Marginal cost
a. is the increase in total cost resulting from production of one additional unit of output. b. is the cost of the marginal unit of output. c. and the average cost curve are U-shaped. d. All of the above are correct.
If the average annual rate of economic growth is 4? percent, approximately how long will it take for the? nation's per capita real GDP to? double?
What will be an ideal response?