The period 1992-200 was marked by
a. erratic changes in real GDP
b. abnormally high levels of unemployment
c. abnormally high levels of inflation
d. sustained economic growth
e. extended phase of recession
D
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Statutory incidence of a tax deals with
A. the amount of revenue left over after taxes. B. the amount of taxes paid after accounting for inflation. C. the person(s) legally responsible for paying the tax. D. the amount of tax revenue generated after a tax is imposed.
An increase in second-period income results in
A) an increase in first-period consumption, an increase in second-period consumption, and an increase in saving. B) an increase in first-period consumption, a decrease in second-period consumption, and an increase in saving. C) a decrease in first-period consumption, an increase in second-period consumption, and an increase in saving. D) an increase in first-period consumption, an increase in second-period consumption, and a decrease in saving.
Spending VCU4 on real-world goods and services causes the nation's:
a. Monetary base to fall. b. M2 money supply to fall. c. M2 money multiplier to fall. d. Monetary base to remain the same.
A growth recession is said to occur when the economy grows at a
A. Slower rate in the current year than the preceding year. B. Rate less than that of population. C. Rate less than the long-term average. D. Negative rate.