Between 1950 and 1980 in the U.S., interest rates trended upward. During this same time period
A) the rate of money growth declined.
B) the rate of money growth increased.
C) the government budget deficit (expressed as a percentage of GNP) trended downward.
D) the aggregate price level declined quite dramatically.
B
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The study of individual choice and its implications for the behavior of prices and quantities in individual markets is:
A. the Scarcity Principle. B. macroeconomics. C. a normative economic principle. D. microeconomics.
________ originally proposed the use of government spending to stimulate the economy in the 1930s during the Great Depression.
A. Stanley Kuznets B. John Maynard Keynes C. Albert Einstein D. Franklin Delano Roosevelt
To derive the law of demand, we assume that
A) prices are constant. B) real prices are constant. C) marginal utility is constant. D) tastes are constant.
Use the table below to answer the next question.YearEmployedStructuralFrictionalCyclicalUnemployed20031,800501005020020042,400100100 30020052,000 15018050020062,66040 0140Determine the number of people cyclically unemployed for the year 2004.
A. 200 B. 100 C. -100 D. 0