Which of the following is an important ingredient for the achievement of efficient economic organization?
a. highly restrictive exchange rate controls
b. secure property rights and political stability
c. high and variable rates of inflation
d. high marginal tax rates
B
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According to the new classical approach to the aggregate supply curve, the aggregate supply curve slopes upward because
A) increases in the price level result in lower real balances. B) higher current output results in higher desired investment. C) higher prices result in higher levels of spending as consumers attempt to stay ahead of inflation. D) businesses have difficulty in distinguishing relative price increases from general price increases.
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Indicate whether the statement is true or false
The main reason why the short-run aggregate supply curve slopes upward is that as the average price level increases, larger scales of production become more profitable
a. True b. False Indicate whether the statement is true or false
Investment, as a part of GDP, includes:
A. any goods that are bought by - firms who plan to use those purchases to produce other goods and services in the future, rather than consuming them. B. any item you buy that you are looking for a return on over time. C. consumption goods that are purchased by households. D. spending on productive inputs such as stocks, bonds, and other types of financial instruments.