What most accurately describes the implementation of the New Deal?
a. It was implemented in two phases over the course of about eight years.
b. Its major reforms were implemented in the first 100 days of Franklin Roosevelt's Presidency.
c. The first elements of the New Deal that were implemented were the most politically liberal.
d. Most of the reforms were temporary and were phased out by World War II.
a. It was implemented in two phases over the course of about eight years.
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The largest portion of discretionary spending is devoted to
A) foreign aid. B) national defense. C) paying federal employees. D) the space program.
Diminishing returns along a production function means that each additional hour of labor employed
A) produces a successively smaller additional amount of real GDP. B) produces a successively larger additional amount of real GDP. C) produces a constant additional amount of real GDP. D) does not produce any additional real GDP. E) forces the real wage rate to rise.
The J-curve summarizes the phenomenon that occurs when import spending initially falls after a depreciation of a country's currency and then import spending later rises
Indicate whether the statement is true or false
The globalized AS/AD curve is the standard AS/AD model with an added:
A. long-run aggregate supply curve. B. world supply curve. C. world demand curve. D. domestic supply curve.