The recession of 1937-38 had two basic causes: (1) _______________________; and (2) _________________________.
Fill in the blank(s) with the appropriate word(s).
The federal government tried to balance its budget; the Federal Reserve slowed the growth of the money supply
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You decide to quit your $40,000 a year job to go back to school. Your rent is $9,600 per year, you spend $6,000 per year on food, your tuition costs $24,000 per year, and textbooks cost $3,000 per year
Based on these numbers, what are your yearly explicit and implicit costs of going back to school?
Which of the following has occurred as the millennial generation has come of age?
A) The demand for golf equipment has decreased in the U.S. market. B) The demand for traditional fast food has increased in the U.S. market. C) The demand for "fast casual" food has decreased in the U.S. market. D) all of the above
The Heckscher-Ohlin model is an alternative to the classical theory of international trade that focuses on the factors of production that countries possess
Indicate whether the statement is true or false
In an economy experiencing a persistently falling price level:
a) potential GDP will necessarily exceed actual GDP. b) changes in nominal GDP may either overstate or understate changes in real GDP. c) changes in nominal GDP understate changes in real GDP. d) changes in nominal GDP overstate changes in real GDP.