In 2002, what country’s banking system went bankrupt because of a sharp depreciation of its exchange rate?
a. Chile
b. Malaysia
c. Argentina
d. United States
c. Argentina
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What is the relationship between the slope of the aggregate expenditure curve and the expenditure multiplier?
What will be an ideal response?
Refer to the scenario above. The average total cost of Firm A when it produces 100 pens is $3, and the average total cost of Firm B when it produces 50 pens is $7. At these levels of production, which of the following statements is true?
A) Both firms incur losses. B) Firm A incurs a loss but Firm B makes a profit. C) Firm B incurs a loss but Firm A makes a profit. D) Both firms make profits.
Explain how price adjusts to eliminate excess demand
What will be an ideal response?
Between 1860 and 1910, output in manufacturing, mining, and railroad freight hauling
a. expanded more rapidly than the labor force in these sectors. b. grew at about the same rate as the labor force in these sectors. c. grew more slowly than the labor force in these sectors. d. expanded, while the labor force in these sectors declined.