The period from 1983 to 1990 was characterized by
A. decreasing budget deficits and increasing trade surpluses.
B. persistently high inflation.
C. below average rates of real GDP growth.
D. consistent growth of real GDP and decreasing rates of inflation.
Answer: D
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A rise in the real interest rate will cause which of the components of aggregate demand to decline?
A) Only C B) Only C and I C) Only C, I, and NX D) C, I, G, and NX
If the firms in an oligopoly collude, the results will approximate what other type of industry?
a. perfect competition b. monopolistic competition c. monopoly d. none of the above
In practice, it is difficult to integrate the concept of vertical equity into the tax code although it is widely agreed that high-income individuals should pay more
a. True b. False
With two-part pricing
A) the consumer puts down a deposit and then pays the rest when she picks up the goods purchased. B) the average price paid varies with the number of units purchased. C) the consumer is limited in the number of units that can be purchased. D) consumers are required to buy two units of a good.