Classical economists believed that
a. full employment was an unrealistic goal.
b. the economy was essentially unstable.
c. the economy naturally tended toward full employment.
d. employment did not matter.
c. the economy naturally tended toward full employment.
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The structural change that accompanies the early stages of development can be characterized as
a. an increased percentage of output in manufacturing at the expense of agriculture and services b. an increased percentage of output in services at the expense of agriculture and manufacturing c. an increased percentage of output in agriculture at the expense of manufacturing and services d. an increased percentage of output in agriculture and manufacturing at the expense of services e. none of the above
Consider the two graphs above. Suppose that financial liberalization enables more businesses to access credit markets. This would ________ the desired level of the capital stock, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
Spending VCU4 on real-world goods and services causes the nation's:
a. Demand for real goods and services to remain the same and monetary base to rise. b. Demand for real goods and services to rise and M2 money supply to fall. c. Demand for real goods and services to remain the same and M2 money multiplier to remain the same. d. Demand for real goods and services to rise and monetary base to remain the same.
The horizontal dotted line is
A. a price ceiling.
B. a price floor.
C. the price at which quantity supplied equals quantity demanded.
D. the equilibrium price for this graph.