Command economies strictly rely on sophisticated input-output analysis to allocate resources.
Answer the following statement true (T) or false (F)
False
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Over the last 50 years, U.S. labor productivity grew the fastest during the ________ because of ________
A) 1990s; advancements in healthcare due to the unlocking of the human genome B) 1980s; the invention of the computer and the oil embargo C) 1970s; an increase in government taxes and expanded regulations D) 1900s; the war on terror and return to the basics of education E) 1960s; fast paced technological change and large increases in human capital accumulation
In order to increase its target for the federal funds rate, the Fed would normally
A) conduct open market sales. B) conduct open market purchases. C) increase the discount rate. D) increase reserve requirements.
What does it mean to "think at the margin"? How is thinking at the margin related to determining best choices?
What will be an ideal response?
When the Federal government cuts taxes and increases spending to stimulate the economy during a period of recession, such actions are design to be:
A. Passive B. Automatic C. Countercyclical D. Nondiscretionary