Whose last words were "All my possessions for a moment of time?"
a. Stanley Whitehall
b. Queen Elizabeth I
c. Peter Senge
d. Queen Margaret
B
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In the above figure, if initial equilibrium is at point A and there is a fully anticipated increase in aggregate demand from AD1 to AD2 due to an anticipated increase in the money supply, then
A) the price level will shift to P2 in the long run. B) the economy will move directly from point A to point C without passing through point B. C) the price level will shift to P2 in the short run. D) the economy will move directly from point A to point B, and will remain at point B in the long run.
For movements along the short-run aggregate supply curve
A) the money wage rate is constant. B) the real wage rate changes. C) potential GDP remains constant. D) All of the above are correct.
Define marginal cost and calculate Brazil's marginal cost of producing a ton of food when the quantity produced is 2.5 tons per day
What will be an ideal response?
The reason that differences in economic growth rates are important in the long run is that
A) growth compounds over time. B) population naturally shrinks in most countries. C) real GDP usually drops when adjusted for inflation. D) nominal GDP typically increases faster than real GDP.