On average, expansions in the United States have become ________, and recessions have become ________ since 1950
A) longer; longer
B) longer; shorter
C) shorter; longer
D) shorter; shorter
B
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What was the crucial factor permitting cotton textile production to take off in New England between 1790 and 1815?
(a) The imposition of high tariff rates (b) A lowering of import tariffs by Britain (c) The blocking of trade with England through the Embargo and the War of 1812 (d) A relaxation of regulations restricting exports of machinery by Britain
If there were no fractional reserve banking, then:
A. the reserve ratio must be 0percent. B. banks would not create money in the economy. C. there would be a very small amount of lending using deposits. D. banks would not be able to create as much money as they desired.
(a) Find the total profit or total loss of the firm shown in the graph. (b) Is the firm in short run or long run? (c) How much is the firm's most efficient output? (d) What is the lowest price the firm would accept in the long run?
Refer to the above figure. The classical aggregate supply curve is represented by ________ and the simpleKeynesian (short-run) aggregate supply curve is represented by ________.
A. curve 3; curve 4 B. curve 2; curve 3 C. curve 2; curve 1 D. curve 2; curve 4