International capital flows in an open economy have the effect of
a. reducing the power of monetary policy.
b. increasing the power of monetary policy.
c. increasing the power of monetary policy in an expansion and reducing it in a contraction.
d. reducing the power of monetary policy in an expansion and increasing it in a contraction.
b
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Mass production during U.S. industrialization involved using which of the following?
(a) Interchangeable parts (b) Division of labor and specialization (c) The assembly line (d) All of the above
The free entry and exit of firms in a monopolistically competitive market guarantees that
a. both economic profits and economic losses can persist in the long run. b. both economic profits and economic losses disappear in the long run. c. economic profits, but not economic losses, can persist in the long run. d. economic losses, but not economic profits, can persist in the long run.
In the short run, the dominant effect of deficit reduction causes an
A. outward shift of the aggregate supply curve. B. inward shift of the aggregate supply curve. C. outward shift of the aggregate demand curve. D. inward shift of the aggregate demand curve.
An important factor in determining a country's rate of economic growth is
A. the proportion of the adult population that is working. B. the diversity of its population. C. its rate of saving. D. the size of its labor force.