For the United States since 1950, imports as a percentage of GDP has
A. decreased.
B. tripled.
C. increased slightly.
D. remained constant.
Answer: B
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The above figures show the market for oranges. Which figure(s) shows the effect of existing orange growers increasing the size of their orange groves?
A) Figures A and C B) Figures B and D C) Figure A D) Figure D
Referring to the graph above, an economic variable that had peaked in December 1912, and July 1918 is likely a ________ variable
A) leading countercyclical B) leading procyclical C) lagging countercyclical D) lagging procyclical E) none of the above
The simultaneous occurrence of high inflation and high unemployment is called
A) reverberation. B) disinflation. C) stagflation. D) "fooling."
Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower