Why did the U.S. temporarily operate outside the production possibilities frontier in 1942, 1943, and 1944?
A. The Civil War
B. World War I
C. The Great Depression
D. World War II
D. World War II
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What is a fiduciary monetary system?
What will be an ideal response?
Proposals to write off significant developing-country debt were opposed by
a. all developing countries b. most developed countries and some middle-income, highly-indebted developing countries c. most developed countries and the poorest developing countries d. only the poorest developing countries e. all countries opposed these proposals
Given the consumption function C = $100 billion + 0.75 ($300 billion), autonomous consumption is equal to:
a. $100 billion. b. $225 billion. c. $300 billion. d. $325 billion. e. $400 billion.
When a country follows an inward-oriented strategy, it tends to produce:
a. only tertiary goods. b. goods in which it has an absolute advantage. c. only labor-intensive goods. d. goods for which no export barriers exist. e. goods that replace foreign manufactured products.