________: when aggregate demand for goods and services is rising and the economy is approach full employment output
Fill in the blank(s) with correct word
Demand-pull inflation
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An international agreement established in 1947 to further world trade by reducing barriers and tariffs is the
A) World Trade Organization. B) European Union. C) General Agreement on Tariffs and Trade. D) North American Free Trade Agreement.
Classical economists believed that
a. full employment was an unrealistic goal. b. the economy was essentially unstable. c. the economy naturally tended toward full employment. d. employment did not matter.
Assume that you invest $550 in a certificate of deposit that has an annual interest rate of 4.5 percent. According to the rule of 72, what will your investment be worth after 16 years?
a. $550 b. $3,960 c. $1,100 d. $797.5 e. $1,200
Which of the following statements is TRUE about education in America?
A. Less than half of our high school graduates can function at the eighth grade level. B. The U.S. has the largest number of engineering students of any country of the world. C. Ninety percent of all PhD's in engineering and sciences awarded in the U.S. are foreign students. D. American's education system is second to none.