The notion of the "classical range" was one of the basic parts of the
A. present value curve.
B. aggregate supply curve.
C. aggregate demand curve.
D. supply curve.
Answer: B
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If productivity growth accelerates, but workers do not realize it ________
A) they will expect large wage hikes B) they will not expect large wage hikes C) the natural rate of unemployment will rise D) the number of discouraged workers will rise
Before specialization: a. families were largely self-sufficient
b. families produced much more than they could each consume. c. there was a great need for exchange between families. d. families consumed much more than they could each produce. e. families exchanged only goods, not services.
If the GDP chain price index in a given year is less than 100, real GDP in that year would be greater than nominal GDP
a. True b. False Indicate whether the statement is true or false
Investment is a flow of resources into the production of new capital
a. True b. False Indicate whether the statement is true or false