U.S. industry is much more concentrated than other leading industrial nations of the world
Indicate whether the statement is true or false
F
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That part of disposable income not spent on consumption is:
a. saved. b. invested. c. wasted. d. borrowed.
Double-digit inflation
a. has occurred in the United States in only three of the past fifty years b. has occurred throughout most of United States history c. is also called creeping inflation d. was the norm in the United States until the end of the Vietnam War e. has not occurred in the United States since the Great Depression
Assume a central bank follows a rule that requires it to take steps to keep the price level constant. If the price level rose because of an increase in aggregate demand and a decrease in aggregate supply that kept output unchanged, then
a. the central bank would have to decrease the money supply which would decrease output. b. the central bank would have to decrease the money supply which would increase output. c. the central bank would have to increase the money supply which would decrease output. d. the central bank would have to increase the money supply which would increase output.
Which of the following are factors of production?
A. Implicit and explicit costs. B. Productivity. C. Land, labor, capital, and entrepreneurship. D. Output in a production function.