________ are the owners of a corporation
A) Bondholders B) The board of directors
C) Stockholders D) Top management
C
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The dawning of the computer age in the latter part of the 20th century created a new and massive growth spurt in the United States that illustrates what some economists describe as the
a. real growth theory b. accelerator phenomenon c. start of an innovation cycle d. interaction of the multiplier and accelerator e. Adam Smith economic growth theory
The aggregate supply curve is drawn with
a. the price level on the vertical axis and nominal GDP on the horizontal. b. nominal GDP on the vertical axis and real GDP on the horizontal. c. the price level on the vertical axis and real GDP on the horizontal. d. real GDP on the horizontal and the rate of inflation on the vertical.
Private ownership and competitive markets are important for economic growth because they provide individuals with a strong incentive to
a. care for resources and use them beneficially. b. innovate and introduce new products that are highly valued relative to their cost. c. produce goods efficiently. d. all of the above are correct.
In Figure 9-13, a movement of long-run equilibrium from point A to point C could be caused by a(n)
a.
decrease in supply from S2 to S1 in response to economic profits following a decrease in demand from D2 to D1
b.
increase in short-run supply from S1 to S2
c.
increase in supply from S1 to S2 in response to economic profits following an increase in demand from D1 to D2
d.
increase in demand from D1 to D2 in the short run