The building of the ________ were the key development in opening the era of mass production and mass consumption.
Fill in the blank(s) with the appropriate word(s).
transcontinental railroads
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Refer to the above table. If an economy's current per capita real GDP is $3,000, and if its economy grows at an constant annual rate of 5 percent for 50 years, what will be its per capita real GDP at the end of that period?
A) $21,330 B) $34,500 C) $55,200 D) $13,140
Inflation must be high in Moscow because it is very expensive to live there
Indicate whether the statement is true or false
Which of the following will shift the investment demand curve rightward?
a. Higher interest rates b. Gloomy sales expectations c. A cut in corporate taxes that raises after-tax profits d. A decrease in the marginal propensity to consume e. An increase in aggregate income
Which of the following is not a criticism of government spending as a solution to an inflationary gap?
a. It's hard to end new programs of government spending. b. Vested political interests tend to reduce spending. c. The economy has a natural tendency to self-correct. d. Government spending is not cost-free. e. Depreciation will lead to increased investment demand on its own.