What event led to the end of the Great Moderation?
A. The Great Depression
B. The Great Crash
C. Stagflation
D. The Great Recession
D. The Great Recession
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The anticipated effect of contractionary monetary policy is
A. increase in aggregate demand. B. fall in interest rates. C. increased capital outflow. D. appreciation of the currency.
The law of diminishing returns occurs because
A) the marginal product of an additional worker is greater than the marginal product of the previous worker. B) the marginal product of a variable input, such as labor, depends in part on the amount of fixed inputs, such as capital. C) total production decreases as more of the variable inputs are used. D) adding more and more workers leads to a decrease in the quantity of capital.
For what percentage of urban population growth is rural-urban migration responsible?
(a) between 35% and 60%. (b) between 40% and 80%. (c) between 50% and 70% (d) between 50% and 90%.
Using Figure 1 above, if the aggregate demand curve shifts from AD2 to AD3 the result in the long run would be:
A. P2 and Y2. B. P1 and Y2. C. P4 and Y2. D. P1 and Y1.