The 1997 Asian crisis first struck in
A. South Korea.
B. Hong Kong.
C. Singapore.
D. Thailand.
Answer: D
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A curve depicting the relationship between the average price level and the inflation-adjusted quantity of final goods and services produced in the economy is called an
A. aggregate expenditure curve. B. aggregate demand curve. C. aggregate supply curve. D. aggregate income curve.
All other things being equal, an increase in the supply of labor will lead to a fall in the wage.
Answer the following statement true (T) or false (F)
Which of the following examples, ceteris paribus, is most likely to cause a leftward shift in that nation’s long-run aggregate supply curve?
a. Canada reduces government regulations on businesses. b. Mexico experiences 10 years of favorable weather conditions. c. The United States lowers its retirement age by 10 years. d. Norway increases access to on-the-job training programs.
Which of the following refers to the capture hypothesis of regulation?
A. the control of regulatory agencies by firms in an industry B. the ability of the government to capture monopoly profits C. consumer cost savings captured through regulation D. horizontal mergers