Between 1939 and 1944 the United States' national output
A. remained the same.
B. nearly doubled.
C. nearly tripled.
D. nearly quadrupled.
B. nearly doubled.
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If inflation turns out to be higher than was anticipated, debtors are helped because
A) the real present value of their payments increases. B) the real present value of their payments decreases. C) the nominal present value of their payments increases. D) the nominal present value of their payments decreases.
Which of the following always decreases as output increases?
a. ATC b. MC c. AFC d. TC e. TVC
One method of dealing with the unfairness of substantial price increases caused by a national crisis is for government to
a. impose price ceilings and allocate goods by issuing ration coupons b. print ration coupons and allow buyers to bid for them c. shift the supply curve to the left d. impose price floors to protect consumers e. shift the demand curve to the right
If consumer confidence falls, then aggregate demand shifts
a. right, raising the inflation rate above its previous level. b. right, lowering the inflation rate below its previous level. c. left, raising the inflation rate above its previous level. d. left, lowering the inflation rate below its previous level.