The New Deal was the economic program of
A. Herbert Hoover.
B. Franklin D. Roosevelt.
C. Dwight D. Eisenhower.
D. Lyndon B. Johnson.
B. Franklin D. Roosevelt.
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To explain the existence of excess capacity, Keynes argued that
A) prices and wages are flexible, and eventually markets would go back to equilibrium. B) the long run average cost curve should not occur at the full employment level. C) the aggregate demand curve can be manipulated by advertising. D) prices and wages are inflexible in the downward direction.
The input that is generally hard to measure directly and consequently can be reasonably estimated with the growth accounting equation is:
A. technology. B. physical capital. C. labor. D. land.
If exports rise and imports fall, then:
A. GDP will increase. B. GDP will decrease. C. GDP may remain unchanged. D. net exports will fall.
In the U.S., taxes on capital gains are computed using
a. nominal gains. This is one way by which higher inflation discourages saving.
b. nominal gains. This is one way by which higher inflation encourages saving.
c. real gains. This is one way by which higher inflation discourages saving.
d. real gains. This is one way by which higher inflation encourages saving.