Low rates of inflation are generally associated with
a. low rates of government spending.
b. small or nonexistent government budget deficits.
c. low rates of productivity growth.
d. low rates of growth of the quantity of money.
d
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A production quota set below the equilibrium quantity creates
A) a decrease in supply B) a decrease in marginal cost C) a rise in price D) inefficient underproduction E) all of the above
The length of the business cycle in any business cycle theory can vary, but the long-wave cycle (or longer wave cycle) refers to
a. war-induced business cycle theory b. the equilibrium of national income theory c. the innovation cycle theory d. interaction of the accelerator and multiplier theory e. real business cycle theory
What are the factors that contribute to productivity growth in the market economy and which of them is considered most important?
Compared to a barter economy, using money increases efficiency by reducing
a. transaction costs. b. the need to exchange goods. c. the need to specialize. d. inflation.