In earlier centuries, the Roman and Chinese economies:
A.
Expanded in such a way that output per person increased
B.
Expanded in such a way that output per person decreased
C.
Declined in such a way that output per person decreased
D.
Expanded but output per person remained virtually stagnant
D.
Expanded but output per person remained virtually stagnant
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Unemployment insurance:
A. is an explanation for why wages do not reach equilibrium. B. can affect how quickly people find jobs. C. will not affect the natural rate of unemployment. D. is a mandated federal policy all states must adhere to.
Changes in nominal variables are determined mostly by the quantity of money and the monetary system according to
a. both the classical dichotomy and the quantity theory of money. b. the classical dichotomy, but not the quantity theory of money. c. the quantity theory of money, but not the classical dichotomy. d. neither the classical dichotomy nor the quantity theory of money.
Which of the following is an assumption of the decision-making process followed by consumers to maximize utility?
A. Marginal utility always increases as more units of a good are consumed. B. The consumer's income increases as prices of goods increase. C. The consumer considers the prices of the products. D. The consumer oftentimes is not sure about her preferences.
During the 1990s, Japan experienced periods of deflation and very low nominal interest rates, approaching zero percent. Why would lenders of money agree to a nominal interest rate of almost zero?
What will be an ideal response?