Economic growth allows a society to consume
A. more than it should.
B. more goods per person.
C. more than is sustainable.
D. exactly what it needs.
Answer: B
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Policy lags tend to make monetary policy ________.
A. more effective in expansions than contractions B. less effective than fiscal policy C. pro-cyclical D. more effective than initially thought
When Sidney's Sweaters, Inc makes exactly zero economic profit, Sidney, the owner
A) is taking a loss. B) will shut down in the short run. C) makes an income equal to his best alternative forgone income. D) will boost output.
Show the effects of a change in the nominal interest rate and a change in real GDP using the demand for money curve
What will be an ideal response?
Refer to Scenario 7.2. This production function is an example of which of the following types of production functions?
A) Cobb-Douglas B) Leontief C) Fixed proportions D) Lagrange E) none of the above