What is economic growth?
What will be an ideal response?
Economic growth refers to the ability of the economy to increase the production of goods and services.
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During the 2009 euro crisis, a number of countries had private banks that had become too "big to save." Explain
What will be an ideal response?
We would expect the demand for jeans to be:
A. the same as the demand for clothing. B. more elastic than the demand for clothing. C. less elastic than the demand for clothing. D. neither more elastic, less elastic, nor the same elasticity as that of the demand for clothing.
when the AD and SAS curves intersect at a level of real GDP which exceeds potential GDP, which of the following will occur?
What will be an ideal response?
The U.N.'s Millennium Poverty Goal is to
A. Keep the number of people in poverty at a constant level. B. Cut the percentage of people in extreme poverty in half worldwide. C. Reduce the percentage of people in severe poverty in the poorest nations. D. Cut the absolute number of people in extreme poverty in half worldwide.