Attempts to fine-tune the economy through counter-cyclical fiscal policy
A) demonstrated their effectiveness in the 1930s.
B) demonstrated their effectiveness during World War II.
C) demonstrated their effectiveness between 1945 and 1960.
D) have not yet demonstrated their effectiveness.
D
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Suppose a new textbook sells for $100 at the college bookstore. The bookstore will buy it back at the end of the semester for $35, and sell then it used to somebody else for $75. Christina agrees to the deal, and pays $100
Once she buys the book, her sunk cost is A) $25. B) $35. C) $40 D) $65 E) $100.
The curve labeled A in the above figure will shift rightward when
A) the price level falls. B) technology increases. C) population falls. D) the price level rises.
Explain the conditions that are met when a consumer has found the best affordable combination of goods to buy. (Use the terms budget line, marginal rate of substitution, and relative price in your explanation.)
What will be an ideal response?
The key assumption of the Romer model that allows an explanation of sustained growth in output per person is ________
A) technology is nonrivalrous B) the total amount of labor is fixed C) some labor is devoted to producing new technology D) the saving rate is fixed