Which of the following statements is correct?
A. Monetarists believe that the economy is inherently unstable.
B. Monetarists believe that policy activism is one of the principal causes of economic instability.
C. Although monetarists are basically non-interventionist, they are in favor of activist monetary policy.
D. Monetarists argue that changes in M1 affect GDP only through changes in interest rates.
B. Monetarists believe that policy activism is one of the principal causes of economic instability.
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In the United States, how does the income received by the richest 20 percent of individuals compare with the income received by the other 80 percent?
What will be an ideal response?
If all inputs are increased by 5 percent and output increases by 8 percent, then the
A) firm experiences constant returns to scale. B) long-run average cost curve slopes downward. C) long-run average cost curve shifts downward. D) firm experiences diseconomies of scale.
Cyclical unemployment refers to unemployment resulting from
a. a mismatch of skills b. being in the wrong location at the wrong time c. the time and monetary cost of finding the best job d. climatic changes in weather affecting employment, such as agriculture and fishing e. periodic declines in business activity.
If real GDP per capita measured in 2009 dollars was $6,000 in 1950 and $48,000 in 2018, we would say that in 2018, the average American could buy ________ times as many goods and services as the average American in 1950
A) 1/8 B) 4 C) 8 D) 12