In the period 1965 through the 1970s, policymakers pursued ________ policies in order to achieve ________
A) expansionary; high employment
B) expansionary; low inflation
C) contractionary; high employment
D) contractionary; low inflation
A
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Poverty is defined in two ways: the absolute concept of poverty and the relative concept of poverty.
Answer the following statement true (T) or false (F)
If Gambinia has many workers but very little land and even less productive capital, then, following the Heckscher-Ohlin model, we predict that Gambinia will export
A) labor-intensive goods. B) capital-intensive goods. C) both capital- and land-intensive goods. D) land-intensive goods. E) both labor- and land-intensive goods.
If we observe that when the price of chocolate increases by 10%, total revenue increases by 10%, then the demand for chocolate is unit price elastic
a. True b. False Indicate whether the statement is true or false
Perry accumulated a lot of mathematical skills while in high school, college, and graduate school. Economists include these skills as part of Perry's
a. proprietary knowledge. b. technological knowledge. c. human capital. d. physical capital.