The easy money of Japan during the 1990s and early 2000s:
What will be an ideal response?
suffered from cyclical asymmetry
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The Equal Employment Opportunity Commission was established by
a. the Social Security Act b. the Reagan administration c. the Civil Rights Act d. the Equal Rights Amendment e. the Wagner Act
When a country gains from trade:
A. everyone in that country benefits from the trade. B. the total producer surplus increased in the country. C. the net gain of surplus is positive for that country. D. the total consumer surplus increased in the country.
A growth recession occurs when
a) there are two successive quarters of negative GDP growth b) economic growth is so rapid that it creates inflation c) real GDP is growing but nominal GDP is not d) potential GDP declines e) GDP grows at a slower rate than its long run trend
“To choose is to lose” is another way to describe which concept in economics?
a. scarcity of resources b. tangible benefits c. marginal thinking d. opportunity cost