Which of the following explanations of the business cycle focuses on both aggregate supply and aggregate demand shifts?
A. Monetarist explanations
B. Keynesian explanations
C. Supply-side explanations
D. Eclectic explanations
D. Eclectic explanations
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Trade is often restricted because the
A) gain per producer is larger than the loss per consumer. B) total gain to all producers is larger than the total loss to all consumers. C) gain per producer is less than the loss per consumer. D) total gain to all producers is smaller than the total loss to all consumers. E) gain per consumer is larger than the loss per producer.
The best measure of a change in the standard of living is the change in
a. nominal GDP. b. real GDP. c. real per capital disposable income. d. net national product.
Most less-developed countries are characterized by
a. inadequate manpower b. a high proportion of the population under the age of 15 c. unfertile and uncultivable land d. an extensive infrastructure e. low total productivity but high per capita productivity
Investment spending at any level of national income is the investment producers
a. actually make b. expected to make c. expect to make d. make net of actual investment e. intend to make