At one time, many economists believed that
A. the government could determine the slope of the Phillips curve.
B. the government could make the Phillips curve horizontal.
C. the government could decide at which point on the Phillips curve the economy should be.
D. the government could determine what the Phillips curve should be.
Answer: C
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An implication of the return-to-entrepreneurship curve is that:
A) for a relatively lower return, there will be more entrepreneurs with at least that return. B) all entrepreneurs in an economy with inclusive institutions have exactly the same return. C) all entrepreneurs in an economy with extractive institutions have exactly the same return. D) for a relatively lower return, there will be fewer entrepreneurs with at least that return.
The figure above shows the demand for fruit snacks. Which movement reflects a decrease in demand?
A) from point a to point e B) from point a to point b C) from point a to point c D) from point a to point d
If a nation produces less than it spends what do we know about: A. its net exports? B. its net capital outflow? C. its saving in relation to its domestic investment?
Cost-push inflation is due to:
A. "too much money chasing too few goods". B. the economy operating at full employment. C. increases in production costs. D. excess total spending.