Decreasing aggregate demand to eliminate an inflationary gap often creates the problem of
a. unemployment.
b. increasing real GDP.
c. increasing inflation.
d. increasing the labor force.
a
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The opportunity cost of taking a semester-long economics class is
A) the cost of tuition and fees only. B) equal to the highest value of an alternative use of the time and money spent on the class. C) the value of the time spent in the classroom. D) the knowledge and enjoyment you receive from attending the class. E) zero because there is no admission charged if you are enrolled in the course.
One of the most basic models of the economy is:
A. real GDP per capita. B. the current population survey. C. consumer expenditure. D. the circular flow model.
Marginal land is land that is not worth anything under any circumstances
a. True b. False Indicate whether the statement is true or false
Export-led growth was a strategy led first by _______ after WWII, based on the central insight to "go where the money is."
Fill in the blank(s) with the appropriate word(s).