Which of the following events in U.S. history did not create economic growth (shift the production possibilities curve outward)?
A. The Louisiana Purchase in 1803 that nearly doubled the land mass of the United States.
B. Inventions of machines such as Cyrus McCormick's mechanical reaper.
C. The introduction of the moving assembly line in automobile production by Henry Olds.
D. The dramatic reduction in the U.S. unemployment rate from 1939 to 1941 as we prepared to enter World War II.
D. The dramatic reduction in the U.S. unemployment rate from 1939 to 1941 as we prepared to enter World War II.
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Explain what is meant by capital flight. How would you distinguish capital flight from the normal desire of investors to diversify their portfolios by investing abroad?
What will be an ideal response?
The rate of interest paid on a bond is called the
A) coupon rate. B) weighted average cost of capital. C) discount rate. D) all of these choices.
Demand and supply can also be used to explain how economic events will cause ___________ in prices, wages, and rates of return.
a. changes b. freezes c. barriers d. locking
In the 1960s and early 1970s, many economists and policy makers thought the Phillips curve was
a. interesting, but had no theory behind it. b. invalid and of no use to policy makers. c. of no interest in making macroeconomic policy. d. a "menu" of possible choices available to policy makers.