Outsourcing is a source of increased U.S. output.
Answer the following statement true (T) or false (F)
True
Outsourcing allows greater specialization and therefore higher living standards.
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In the fooling model, AD/SAS equilibria to the left of LAS are unstable because ________ nominal wages shift ________
A) falling, AD downward B) falling, SAS downward C) rising, AD upward D) rising, SAS upward
Which of the following terms refers to federal spending and borrowing causing interest rates to rise and business investment to fall?
a. recognition lag b. implementation lag c. legislative lag d. crowding out
The aggregate demand and aggregate supply model implies monetary neutrality
a. only in the short run. b. only in the long run. c. in both the short run and the long run. d. in neither the short run nor long run.
Fiat money has value because it
A. is backed by gold. B. can be used to buy goods and services. C. can be exchanged for precious metals at a fixed price. D. can be divided into smaller units. E. All of these responses are correct.