Private ownership of nearly all of a nation's land, labor, capital, and entrepreneurial ability is common to
A. communism.
B. fascism.
C. socialism.
D. None of these choices are true.
B. fascism.
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When the real interest rate rises, there is
A) neither a shift of the consumption function nor a movement along the consumption function. B) a downward shift of the consumption function. C) a downward movement along the consumption function. D) an upward shift of the consumption function. E) an upward movement along the consumption function.
If the MPC is 0.8, and the government spends an additional $100b, the overall effect on GDP will be:
A. $400b. B. $500b. C. $120b. D. $180b.
Corey deposits $1,000 in a savings account that pays an annual interest rate of 5 percent. Over the course of a year, the inflation rate is 1.7 percent. At the end of the year, Corey has
a. $17 more in his account, and his purchasing power has increased by $10. b. $30 more in his account, and his purchasing power has increased by $50. c. $40 more in his account, and his purchasing power has increased by $33. d. $50 more in his account, and his purchasing power has increased by $33.
Business cycles
A. have been a recurring source of debate to economic theory throughout history. B. represent a fairly recent problem confronting economic systems. C. show very regular and smooth patterns of ups-and-downs in economic systems. D. cannot occur in market-based economic systems. E. have been increasingly unstable over the past half century.