In the reservoir analogy for stock versus flow, the stock of capital is similar to the:
A. Quality of water
B. Outflow of water
C. Inflow of water
D. Level of water
D. Level of water
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According to the Aggregate Demand Aggregate Supply diagram, short-term, an anti-inflation policy creates:
A. higher output. B. higher unemployment C. lower inflation. D. higher inflation.
Which of the following would most likely be classified as a natural monopoly?
A) a city water district B) Microsoft C) Disneyland D) Exxon-Mobil
All of the following are part of the global financial system EXCEPT the ________.
A) New York Stock Exchange B) World Trade Organization C) International Monetary Fund D) Bank for International Settlements
Those who do not favor programs aimed at reducing inequality argue that these programs:
A. reduce people's incentive to work hard. B. increase the crime rates. C. prevent the economy from reaching equilibrium in the labor market. D. penalize people who are unable to work through no fault of their own.