According to the classical dichotomy, which of the following is not influenced by monetary factors?
a. unemployment
b. the price level
c. nominal interest rates
d. All of the above are correct.
a
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In 2015, the U.S. auto industry experienced rising sales. The automobile industry was experiencing the effects of
A) the underground economy. B) inflation. C) the business cycle. D) depreciation.
The circular flow of income shows that GDP can be measured as the sum of wages, interest, rent, and profits received by households or total expenditures on goods and services by households, firms, government, and the rest of the world
Indicate whether the statement is true or false
The Western railroads had been granted vast amounts of land by the government. Consequently, they
(a) Held on to it tightly. (b) Produced a competitive market with homesteading. (c) Wanted to profit only from providing railroad services. (d) Hindered economic development by restricting new farms in the West.
A recession is a period during which
a. aggregate demand, production, and unemployment rises. b. aggregate demand, production, and unemployment falls. c. aggregate demand, production, and unemployment remain the same. d. aggregate demand and production rises while unemployment remains the same. e. aggregate demand and production falls while unemployment rises.