Prior to World War II,
a. the growth of real GDP was more stable than has been the case since the war.
b. the growth of real GDP was less stable than has been the case since the war.
c. unemployment seldom exceeded 4 percent of the labor force.
d. double-digit swings in real GDP during a single year were unheard of.
B
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The long-run Phillips curve is the relationship between
A) unemployment and the price level at full employment. B) unemployment and the inflation rate at the expected price level. C) inflation and unemployment when the economy is at full employment. D) inflation and real GDP at full employment. E) inflation and the expected inflation rate.
The capital market is a market in which only financial capital is acquired
a. True b. False Indicate whether the statement is true or false
Which of the following is a fixed cost to farmer McDonald?
a. gasoline b. fertilizer c. insurance d. seed
A divisive society is one in which members of society work together for the common good
Indicate whether the statement is true or false