Refer to the information provided in Figure 28.7 below to answer the question(s) that follow.
Figure 28.7Refer to Figure 28.7. The unemployment rate at U1
A. equals zero.
B. equals the natural rate.
C. is greater than the natural rate.
D. is lower than the natural rate.
Answer: B
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Which of the following statements is true?
A) The type of institutions in a nation is considered a proximate cause of prosperity. B) Institutions determine the degree to which society accumulates factors of production and adopts new technology. C) Societal religious beliefs and existing social norms are key proximate causes of economic prosperity. D) Cultural and geographical factors that affect economic prosperity can be changed faster than the institutional factors that affect it.
Within neoclassical growth theory, technological change ________ saving and ________ investment
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
Demand curves often do not remain stationary; they shift because of changes in other variables.
Answer the following statement true (T) or false (F)
When the value of a currency is determined ________, the exchange rate system is defined as a floating exchange rate system
A) by its issuing government, with occasional readjustments in value B) only by supply and demand C) by its issuing government D) mostly by supply and demand, but with occasional government intervention