If planned aggregate expenditure is less than total production
What will be an ideal response?
firms will experience an unplanned increase in inventories
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Henry George thought that
A. landowners deserve the economic rent that their land holdings provide. B. a single tax on land equal to the unearned surplus that landowners receive would pay for all needed government. C. economic inefficiency would result from a tax on the unearned surplus that landowners receive annually. D. landowners bear most of the costs associated with economic growth.
A free-trade area is:
a. a group of countries that agrees there will be "no rules" about trade—anything goes. b. a group of countries that agrees to eliminate customs fees and containerized shipping charges on goods traded among them. c. a group of countries that agrees to eliminate barriers to trade between themselves while keeping tariffs in place against the rest of the world. d. a group of countries that eliminates trade barriers among themselves and erects a common tariff against all other nations
The unemployment rates for men are:
What will be an ideal response?
The IMF offers loans to developing countries in times of balance of payment constraints, but the IMF also faces strong criticisms because:
A. contractionary fiscal policy and expansionary monetary policy tend to be ineffective against balance of payment constraints. B. contractionary fiscal and monetary policies are always undesirable for any developing country. C. it employs economists that know little about developing countries and their economic affairs. D. the conditions tend to be procyclical, therefore worsening the recessions.