Which of the following statements best describes real per capita GDP in the US between 1929 and 1959?
a. It was a period of consistent increase.
b. It was lower at the end of the period than the beginning because of the Great Depression.
c. Although it was erratic in the early part of this period during the Great Depression, it increased consistently after World War II.
d. It grew the most during World War II.
d. It grew the most during World War II.
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Consumers make all economic decisions in a mixed economy
Indicate whether the statement is true or false
Goods with upward sloping demand curves are referred to as
A) luxury goods. B) substitute goods. C) Giffen goods. D) Marshall goods.
Large current account deficits imply large financial account surpluses
Indicate whether the statement is true or false
Which of the following is most likely sold in a monopolistically competitive market?
a. wheat b. cable TV programming c. a share of McDonald's stock d. sunglasses