The recovery from the low point of the Great Depression lasted for ____ months.
A. 12
B. 25
C. 50
D. 90
C. 50
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According to the natural rate hypothesis, if the economy begins at full employment with an unemployment rate of 5 percent and then the inflation rate increases from 2 percent to 4 percent, then the economy will
A) not see any lower unemployment, even temporarily, just higher inflation. B) have lower unemployment but then return to its natural rate with an inflation rate of 4 percent. C) eventually return to its natural rate of 2 percent inflation and its natural unemployment rate of 5 percent. D) eventually return to its natural rate of 2 percent inflation and a new lower unemployment rate. E) stay at the 4 percent inflation rate and the natural unemployment rate will fall.
Under the system of "township planning"
a. no one could own land that had not been previously surveyed. b. settlers chose their own plots of land, under the supervision of a county surveyor. c. legal descriptions of property made reference to permanent natural objects. d. gaps between unsettled and settled land were encouraged.
Which of the following is true if marginal costs increase at a slow rate as output increases? a. The short-run aggregate supply curve is relatively steep. b. The short-run aggregate supply curve becomes vertical
c. The short-run aggregate supply curve is relatively flat. d. The long-run aggregate supply curve becomes horizontal. e. The long-run aggregate supply curve becomes downward sloping.
Which national income account should be examined to discover trends in the after-tax income that people have to save and spend?