From 1977 to 2014, the rate of job creation has generally
A. trended up.
B. trended up from 1977 to 2000, then trended down after that.
C. trended down from 1977 to 2000, then trended up after that.
D. trended down.
Answer: D
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Which of the following has the greatest difference between short-run and long-run price elasticities of demand?
a. automobiles
b. jewelry
c. movies
d. salt
Assume that the nominal exchange rate increases by 2%. If prices (both domestic and foreign do not change), we know that
A) domestic goods are now relatively cheaper. B) domestic goods are now relatively more expensive. C) foreign goods are now relatively cheaper. D) both B and C
An open economy is one that trades with other nations in goods and services, and perhaps also trades in financial assets.
Answer the following statement true (T) or false (F)
Of the two economic growth theories, which is the most optimistic about the chances of real GDP per person growing indefinitely? Which is the most pessimistic? What accounts for the differences?
What will be an ideal response?