In their 1960 article, Paul Samuelson and Robert Solow found
A) a direct relationship between inflation and investment expenditures.
B) an inverse relationship between inflation and investment expenditures.
C) a direct relationship between inflation and unemployment.
D) an inverse relationship between inflation and unemployment.
D
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In a market system, decisions about how to allocate resources are made: a. by central planning boards in each industry
b. by a lottery system. c. by individuals and firms interacting in markets coordinated by market prices. d. by large conglomerates working cooperatively with the government.
Which of the following would cause prices and real GDP to rise in the short run?
a. Short-run aggregate supply shifts right. b. Short-run aggregate supply shifts left. c. Aggregate demand shifts right. d. Aggregate demand shifts left.
Historically, development of a new technology often:
A. results in immediate increases in productivity. B. leads to increases in productivity only once firms learn how to use it. C. requires a complementary increase in physical and human capital. D. has had no impact on changes in productivity.
When smaller political groups wish to have influence in a government with pluralistic voting, they will:
A. drop from races, and consolidate with larger parties. B. stay in political races, in the hopes of swaying the vote away from the candidate the majority favors. C. stay in political races, in the hopes of a miracle. D. drop from races, and campaign instead to sway the vote away from the candidate the majority favors.