Our high rate of productivity growth following World War II began to decline around the year _____.
Fill in the blank(s) with the appropriate word(s).
1973
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Explain what economists mean by rational choice and think of three choices that you've made today that are rational
What will be an ideal response?
If the inflation rate is 7 percent, real GDP growth is 2 percent, and the current budget deficit is $100 billion, what must the current national debt be if the debt-GDP ratio is to remain the same?
A) $1,111 billion B) $2,000 billion C) $1,429 billion D) $5,000 billion
A monopoly earns the most profit by charging a price where demand is inelastic
a. True b. False Indicate whether the statement is true or false
Which of the following would most likely cause the supply of wheat to increase?
a. a decrease in the price of corn, a substitute for wheat b. a technological advance that lowers the cost of producing wheat c. an increase in the cost of producing wheat d. a change in consumer preferences, causing them to prefer plain white bread to whole-wheat bread