At the national level, higher saving rates lead to ________ and higher standards of living.
A. greater investment
B. slower growth
C. greater current consumption
D. crowding out
Answer: A
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On the graph above, suppose the labor market is in equilibrium at point 2, then the demand curve shifts down to the position shown on the graph
If the real wage has not changed, then the horizontal distance between points ________ measures the unemployment that results. A) 2 & 4 B) 2 & 1 C) 3 & 4 D) 6 & 4
A market situation where a small number of sellers dominate the entire industry is called:
a. monopolistic competition. b. monopsony. c. monopoly. d. oligopoly.
If spending increased by $200, and the GDP increased $1,000 as a result, the MPC must be:
A. 0.80 B. 0.75 C. 5 D. 4
Fluctuations around the long-term growth rate are called:
A. depressions. B. recessions. C. expansions. D. business cycles.