Colonists owned the vast majority of the tonnage shipped between
a. New England and the West Indies.
b. England and the West Indies.
c. The Middle colonies and England.
d. The South and the West Indies.
a. New England and the West Indies.
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The real GDP data could be properly thought of as a(n)
What will be an ideal response?
The horizontal axis of the aggregate demand and aggregate supply graph has the
a) the price level as measured by the CPI. b) unemployment rate. c) the price level as measured by the GDP deflator. d) output of goods and services.
Suppose the economy experiences a recessionary gap. Expansionary monetary policy will
A) increase interest rates and increase the bond prices. B) increase interest rates and decrease the bond prices C) decrease interest rates and increase the bond prices D) decrease interest rates and decrease the bond prices
Technological development:
A. alters the nature of production and consumption. B. does not depend on economic incentives. C. does not depend on institutions. D. makes it impossible to obtain more of the same things.