A ____ rate of total savings will lead to a _____ rate of capital formation.
A. low; high
B. low; low
C. high; low
D. the rate of savings does not affect the rate of capital formation.
B. low; low
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The price of imported oil decreased in 2001. How did this affect the aggregate supply curve?
A. The aggregate supply curve became steeper. B. The aggregate supply curve became flatter. C. The aggregate supply curve shifted inward. D. The aggregate supply curve shifted outward.
How would the Great Recession of 2007–2009 be pictured in a typical production possibilities curve?
The objective of Operation Twist was to:
A. stimulate aggregate demand by lowering long-term interest rates. B. stimulate aggregate demand by lowering short-term interest rates. C. reduce inflationary pressure by raising long-term interest rates. D. reduce inflationary pressure by raising short-term interest rates.
Patents, tariffs, and quotas are all examples of
A) government-imposed barriers. B) economic regulations that increase efficiency. C) entry barriers that improve a country's standard of living. D) entry barriers that protect consumers.