Graphically, the full-employment, low-inflation, rapid-growth economy of the last half of the 1990s is depicted by a:
A. rightward shift of the aggregate demand curve along a fixed aggregate supply curve.
B. rightward shift of the aggregate supply curve along a fixed aggregate demand curve.
C. rightward shift of the aggregate demand curve and a rightward shift of the aggregate
supply curve.
D. leftward shift of the aggregate demand curve and a leftward shift of the aggregate supply
curve.
C. rightward shift of the aggregate demand curve and a rightward shift of the aggregate
supply curve.
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According to Adam Smith, the "invisible hand" refers to which of the following?
a. The "best interests of society (public interest) will occur as an outcome of the market process coordinating the self-interested interactions of buyers and sellers (private interest). b. Government interference is the invisible hand of inefficiency. c. Bribes and graft is the invisible hand of inefficiency. d. The "best interests of society" will occur as an outcome of careful guidance by government authorities in allocating scarce goods and services.
A major advantage to owners of convertible stock over preferred stock is that they are the first claimants to the corporation's dividends
Indicate whether the statement is true or false
A group of buyers and sellers of a particular good or service is called a(n)
a. coalition. b. economy. c. market. d. competition.
Which of the following tax systems could not be structured to satisfy conditions of vertical equity?
a. a proportional tax b. a regressive tax c. a progressive tax d. a lump-sum tax