Which statement is true?
A. Most of the United States' production is geared toward consumer goods.
B. Nearly 25 percent of the United States' national output is devoted to armaments.
C. Japan devotes a higher proportion of its national output to armaments than the United States does.
D. What gets produced in the United States is decided by a central planning board consisting of top government, corporate, and union officials.
A. Most of the United States' production is geared toward consumer goods.
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A short-run equilibrium occurs
A) at the intersection of the short-run aggregate supply curve and the aggregate demand curve. B) at the real GDP associated with full employment. C) at the intersection of the short-run aggregate supply curve and the long-run aggregate supply curve. D) at the intersection of the long-run aggregate supply curve and the aggregate demand curve.
Describe how economic losses are eliminated in a perfectly competitive industry
What will be an ideal response?
A situation in which the quantity of bonds supplied exceeds the quantity of bonds demanded is called a condition of excess supply; because people want to sell ________ bonds than others want to buy, the price of bonds will ________
A) fewer; fall B) fewer; rise C) more; fall D) more; rise
Because of automatic stabilizers, in recessions the government budget deficit ________, while in expansions the deficit ________.
A. falls; rises B. rises; falls C. falls; falls D. rises; rises