The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment.
B. recessionary gaps.
C. exogenous spending.
D. expansionary gaps.
Answer: D
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Clipper ships
a. allowed for profitable shipping on both short and long journeys. b. dominated Atlantic trade by 1850. c. were among the first ships to have iron hulls. d. earned huge profits transporting passengers and cargo during the gold rushes to California and Australia. e. All of the above.
Patents, copyrights, and trademarks
a. are examples of government-created monopolies. b. allow their owners to reduce the costs of what they produce. c. generate more revenue for the government than they cost consumers in the form of higher prices. d. All of the above are correct.
We reject the null hypothesis of no effect if the p-value is typically
A. ? 1. B. ? 0.05. C. ? 0.5. D. ? 0.10.
Which of the following would an economist classify as capital?
A. a post office employee B. a $50 bill C. a corporate bond D. a guitar used by a musician