Confidence in Keynesian economics:
a. diminished in the 1960s as the unemployment rate fell
b. flourished in the 1960s despite two major recessions.
c. diminished in the 1960s as unemployment increased.
d. diminished in the 1970s as inflation occurred simultaneously with two recessions.
e. flourished through the 1980s despite Reagan's supply-side policies.
d
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The environmental Kuznets curve suggests that
a. the environment deteriorates with development b. the environment deteriorates up to some level of GDP then improves c. open economies have less environmental problems d. low-income countries have more environmental problems e. none of the above
If the exchange rate between the U.S. dollar and the euro was 1.20 ($1.20 = one euro), what would be the price in dollars of a bottle of French wine selling for 40 euro?
a. $33.33 b. $40 c. $48 d. $120
In a cartel
A) each firm has an incentive to decrease its own production below the level set by the cartel. B) the firms' marginal cost equals the price set by the cartel. C) each firm has an incentive to lower its price below the level set by the cartel. D) each firm has an incentive to raise its price above the level set by the cartel.
This infrastructure spending is fiscal stimulus.
a. true b. false