The steeper the short-run aggregate supply curve, the more impact a given shift of the aggregate demand curve has on real GDP and the more impact it has on the price level, so the smaller the spending multiplier
Indicate whether the statement is true or false
false
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According to the new growth theory, economic growth will continue with
A) an increased focus on labor-intensive jobs. B) increases in population growth. C) the development of new ideas. D) increases in interest rates.
A government that generates revenue mostly through an inflation tax faces the risk of:
A) rapidly falling prices. B) hyperinflation. C) mass tax evasion. D) a sudden fall in revenue.
The percentage of the population that lived in urban areas rose from approximately 5% in 1790 to 40% in 1860
Indicate whether the statement is true or false
Refer to the information provided in Figure 33.5 below to answer the question(s) that follow.
Figure 33.5Refer to Figure 33.5. The domestic price of oil is $130 per barrel. If the world price of oil is $135 per barrel, this country will
A. export 5 million barrels. B. import 23 million barrels. C. import 9 million barrels. D. export 14 million barrels.