The growing post-war (1945–50) economy was sustained by
(a) an expansion of government expenditures.
(b) the general expansion of nearly all sectors despite the decline in government expenditures.
(c) significant increases in both government and private expenditures.
(d) trade deficits.
(b)
You might also like to view...
To say individuals seek an "economically efficient" course of action is another way of saying they
A) waste precious resources. B) are not concerned about the wellbeing of anybody else. C) economize. D) measure everything according to the bottom line: money.
The World Trade Organization (WTO) promotes foreign trade and investment, or globalization. In recent years opposition to globalization has led to violent protests at meetings of the WTO
All of the following are reasons for these anti-globalization protests except A) protesters believe that free trade destroys the distinctive cultures of many countries. B) protestors believe the WTO favors the interests of high-income countries at the expense of lower-income countries. C) protesters object to the loss of intellectual property (such as software programs and movies) that results from foreign trade and investment. D) protesters believe that tariffs are needed to protect domestic firms from foreign competition.
In the above figure, the market price charged by this profit-maximizing, perfectly competitive firm is
A) $5 per unit of output. B) $10 per unit of output. C) $8 per unit of output. D) $14 per unit of output.
When the short run aggregate supply curve shifts left, it ___ the short-run Phillips curve
a. Moves the economy up along b. Moves the economy down along c. Shifts right d. Shifts left