Over the years, economists in universities and government agencies have developed a number of fairly accurate techniques to assist them in predicting what the economy will do
a. True
b. False
Indicate whether the statement is true or false
False
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If the economy is represented in the graph shown and is currently at point E3, what could be said about the state of the economy?
A. There is higher unemployment than the natural rate.
B. There is lower unemployment than the natural rate.
C. The unemployment rate is just about the natural rate.
D. The unemployment rate is zero.
The order of Soviet dictator Joseph Stalin to farmers in the 1930s to produce capital equipment rather than food
a. was based on government support payments for agriculture. b. relied on foreign assistance. c. was an illustration of the capital formation method. d. was an illustration of the brute force method of breaking the poverty cycle, and it was a very successful policy. e. was an illustration of the brute force method of breaking the poverty cycle, and it meant starvation for millions of farmers.
The Reserve Bank of Glassen is the apex banking institution in the country of Glassen. Money supply in Glassen will increase when:
a. the Reserve Bank of Glassen buys bonds from commercial banks
b. the Reserve Bank of Glassen raises the required reserve ratio for commercial banks.
c. the Reserve Bank of Glassen sells government bonds to commercial banks.
d. the Reserve Bank of Glassen raises the discount rate for commercial banks.
e. the Reserve Bank of Glassen prints new checks.
Which statement is most likely true about the demand curve in the graph?
A. Point R is unit elastic, while point S is very inelastic.
B. Point T is very inelastic, while point Q is very elastic.
C. Point Q is very inelastic, while point T is very elastic.
D. Point Q is slightly elastic, while point S is very inelastic.