Recall the Application about cultural factors in England and their relevance to the Industrial Revolution to answer the following question(s). According to the Application, the cultural changes in England allowed individuals to take advantage of:
A. new developments in science and technology.
B. the increase in agrarian lifestyles.
C. the decrease in population caused by the number of citizens who were leaving for the New World.
D. the elimination of trade barriers resulting from the formation of the European Union.
Answer: A
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If the ________ curve is relatively more unstable than the ________ curve, an interest rate target is preferred
A) IS; IS B) IS; LM C) LM; IS D) LM; LM
Refer to Scenario 7.3. What is the total cost of producing 200 units of output?
A) 100 B) 1000 C) 1500 D) 2000 E) none of the above
National income is calculated as GDP:
a. plus depreciation. b. plus exports. c. minus imports. d. minus depreciation.
The government's fiscal policy is its plan to influence aggregate demand by changing
a. the money supply. b. minimum wage levels. c. sales taxes. d. taxation and spending.