An expansionary gap in the short run results in _____
Fill in the blank(s) with the appropriate word(s).
cost-push inflation in the long run.
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________ economists believe that active help from fiscal and monetary policy is needed to insure that the economy is operating at full employment
A) Keynesian B) Monetarist C) Classical D) All
Among the accomplishments of Nobel Laureate Simon Kuznets is his pioneering research on
a. the sunspot theory of cycles b. war-induced cycles c. population-induced cycles d. innovation cycles e. housing cycles
The graph illustrates the market for British pounds, the currency of the United Kingdom. As the number of buyers of pounds increases and the number of sellers of pounds increases, the equilibrium price of a pound Question 19 options:
A. will remain the same. B. will rise. C. will fall. B. might rise, fall, or remain the same depending on whether the effect on buyers is larger than, less than, or the same as the effect on sellers. D. None of the above answers is correct.
Microeconomics examines the
A) total household expenditures. B) behavior of the economy as a whole. C) aggregate business spending. D) decision making undertaken by individual households.