According to the text, which of the following does the United States import?
A. Electronics, cars, and food.
B. Computers but not food.
C. Cars but not shoes.
D. Clothes but not electronics.
Answer: A
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Over a year, the money supply in a nation grew by 6 percent, while velocity fell by 1 percent and real GDP rose by 2 percent. This results in an inflation over the year of ________ percent
A) 9 B) 7 C) 5 D) 3
Which researcher argues that the slave system and its enforcement mechanisms prevented slave individualism from emerging within the system itself?
(a) Robert Fogel (b) Stanley Engerman (c) Stanley Elkins (d) Kenneth Stampp
Other things the same, continued increases in the money supply lead to
a. continued increases in the price level and real GDP. b. continued increases in the price level but not continued increases in real GDP. c. continued increases in real GDP but not continued increases in the price level. d. a one-time permanent increase in both prices and real GDP.
When the economy produces less than its potential output, it is:
A. producing a quantity less than the long-run aggregate supply quantity. B. called a recession. C. not in long-run equilibrium. D. All of these are true.