Nonresidential structures, durable equipment, residential structures, and inventories are the major categories of
A. human capital.
B. social capital.
C. intangible capital.
D. tangible capital.
Answer: D
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When the unemployment rate _________ the natural unemployment rate, real GDP is _________ potential GDP and the output gap is _________
A. exceeds; below; negative B. is below; below; negative C. exceeds; above; positive D. is below; above; negative
Aggregate supply is the:
A. total quantity of the production of all the households in the economy. B. total quantity of goods and services demanded in the economy. C. market value of the total quantity of goods and services demanded in the economy. D. market value of the total quantity of goods and services supplied in the economy.
A group of buyers and sellers of a particular good or service is known as
a. coalition. b. partnership. c. market. d. union
Which region of the world experienced a decade-long crisis and stagnant or even negative growth rates during the 1980s?
A) Latin America B) East Asia C) The United States and Canada D) The European Union