Compared to Chile (since 1973), Argentine policy has been
a. more favorable to private enterprise
b. more monetarist
c. more constant
d. more successful in macroeconomic terms
e. none of the above
E
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Based on the figure below. Starting from long-run equilibrium at point C, a tax increase that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at point ________ and eventually to a long-run equilibrium at point ________, if left to self-correcting tendencies.
A. D; C B. D; B C. A; B D. B; C
General equilibrium analysis is different from partial equilibrium analysis in that general equilibrium analysis
A) explicitly takes feedback effects into account and partial equilibrium analysis does not. B) does not take into consideration specific problems, but partial equilibrium analysis does. C) takes into consideration specific problems, but partial equilibrium analysis does not. D) allows one to arrive at a specific conclusion, but partial equilibrium analysis does not.
If nominal GDP rises from one year to the next, then
a. the economy must be producing a larger output of goods and services. b. prices at which goods and services are sold must be higher. c. either output, or the general level of prices, or both must be rising. d. employment and productivity must be rising.
If real income per person was $47,210 in the U.S. in 2010, and $55,860 in 2014, what was the annual growth rate over this time period?
a. 4.29 percent per year b. 1.83 percent per year c. 8.45 percent per year d. 1.18 percent per year