According to Brinley Thomas, the inflows of immigrants to the U.S. in the late-19th and early 20th centuries
a. caused simultaneous growth surges in the U.S. and Europe.
b. caused growth surges in the U.S. to coincide with slowed growth in Europe.
c. hampered the growth of both the U.S. and Europe.
d. had no systematic impact on growth patterns in the U.S. or Europe.
b. caused growth surges in the U.S. to coincide with slowed growth in Europe.
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The self-correcting tendency of the economy means that falling inflation eventually eliminates:
A. exogenous spending. B. recessionary gaps. C. expansionary gaps. D. unemployment.
The formula for the CPI is
A) (Cost of CPI market basket at base period prices ÷ Cost of CPI market basket at current period prices) × 100. B) (Cost of CPI market basket at current period prices ÷ Cost of CPI market basket at base period prices) × 100. C) (Cost of CPI market basket this year × Cost of CPI market basket at base period prices) × 100. D) (Cost of CPI market basket this year × Cost of CPI market basket at base period prices) ÷ 100. E) (Cost of CPI market basket at current period prices ÷ Cost of CPI market basket at next year's prices) × 100.
In the schematic theory of economic policy, the demand for money is considered
A) a policy instrument. B) an exogenous nonpolicy variable. C) a structural relation. D) a target variable. E) an irrelevant side effect.
Beginning at the horizontal axis intercept, as a consumer moves upward along the budget line, he will find that
a. the marginal utility per dollar spent on the vertical axis good increases b. the marginal utility per dollar spent on the horizontal axis good increases c. the marginal utility per dollar spent on the horizontal axis good decreases d. the marginal utilities per dollar spent on both goods increase e. the marginal utilities per dollar spent on both goods remain constant along that particular budget line