The two most important American business cycle events of the twentieth century were
A) the Great Depression and stagflation.
B) World War II and the Great Depression.
C) the productivity slowdown and the Great Depression.
D) government budget deficits and World War II.
B
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When a tax is imposed on the suppliers of a good or service, then
A) in general, the producers pay all the tax. B) in general, the consumers pay all the tax. C) the consumers pay a larger part of the tax as the elasticity of demand for the product becomes smaller. D) the consumers pay a larger part of the tax as the elasticity of demand for the product becomes larger.
The goals of monetary policy tend to be interrelated. For example, when the Fed pursues the goal of ________, it also can achieve the goal of ________ simultaneously
A) economic growth; a low current account deficit B) high employment; lowering government spending C) stability of financial markets; a low current account deficit D) high employment; economic growth
Refer to Figure 2-4. Consider the following movements:
a. from point V to point W b. from point W to point Y c. from point Y to point Z Which of the movements listed above represents advancements in technology with respect to only plastic production? A) a, b, and c B) b and c only C) b only D) c only
If, at the current price, there is a surplus of a good, then
a. the quantity supplied is greater than the quantity demanded. b. the market must be in equilibrium c. the price is below the equilibrium price. d. quantity demanded equals quantity supplied.