What is the principal reason that economists give for the existence of deflationary and inflationary gaps?
a. Wages are flexible in the short run.
b. Wages are flexible in the long run.
c. Wages are fixed in the long run.
d. Wages are fixed in the short run.
d
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According to John Maynard Keynes:
a. aggregate expenditures (demand) can be forever inadequate to achieve full employment. b. aggregate output (supply) can be forever inadequate to achieve full employment. c. the economy would automatically adjust to full employment in the long run. d. neither aggregate demand nor aggregate supply is a determinant of full-employment real GDP.
__________ is the term that means the percentage of total sales within a given market that each firm in that market receives.
a. Market share b. Exclusive dealing c. Concentration ratio d. Cost-plus ratio
Which of the following conclusions is not supported by the Three-Sector-Model?
a. A higher GDP Price Index in a nation increases the ability and willingness of domestic businesses to supply goods and services, but it decreases consumers' willingness and ability to buy them. b. An increase in the supply of a nation's currency in the foreign exchange market lowers its international value. c. An increase in nation's demand for goods and services within the Keynesian range is often accompanied by a strong rise in the consumer price index. d. A decrease in nation's demand for goods and services within the Intermediate range usually leads to higher employment.
Why did the United States suspend its preferential trade treatment for Bangladesh in 2013?
a. The United States wanted to collect more tariff revenue on all imports from Bangladesh. b. The United States wanted to punish Bangladesh for its poor labor practices. c. The United States wanted to collect more tariff revenue on imports other than garments from Bangladesh d. The United States wanted to force Bangladesh to join NAFTA.