In the United States, business cycles have occurred against a backdrop of a long-run trend of:
A. declining unemployment.
B. rising inflation.
C. rising real GDP.
D. stagnant productivity growth.
Answer: C
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Which of the following is true?
i. A rational choice is made on the margin. ii. Microeconomics is the study of the national economy while macroeconomics is the study of the global economy. iii. Economists try to understand how the economic world works by testing normative statements. A) only i B) i and iii C) only ii D) only iii E) i and ii
How can the federal government use discretionary fiscal policy to stimulate the economy?
What will be an ideal response?
An autonomous decrease in money demand, other things equal, shifts the ________ curve to the ________
A) IS; right B) IS; left C) LM; left D) LM; right
A major characteristic of the theory of oligopoly is that:
a. there are no real-world examples. b. the reactions of each firm depends on how the firm believes rivals will react. c. in reality few oligopolies survive more than 10 years. d. none of these.