What was the least important reason for the failure of the Virginia Company?
a. Difficulty in finding good crops to grow
b. The Company's employees had unforeseen labor alternatives.
c. There was a relatively small incentive for employees to work hard.
d. The death rate was much higher than they expected.
a. Difficulty in finding good crops to grow.
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Because of the slope(s) of the ________, we can say that a decrease in the price level leads to a higher level of real GDP demanded
A) short-run and long-run aggregate supply curves B) short-run aggregate supply curve C) aggregate demand curve D) long-run aggregate supply curve
The theory of optimum currency areas predicts that
A) floating exchange rates are most appropriate for areas closely integrated through international trade and factor movements. B) fixed exchange rates are most appropriate for areas that are loosely integrated through international trade and factor movements. C) fixed exchange rates are most appropriate for areas closely integrated through international trade and factor movements. D) floating exchange rates are most appropriate for all countries in Europe. E) fixed exchange rates are most appropriate for all countries in Europe.
Which of the following will lead to GDP underestimating our true output? a. Mary begins a catering business
b. James begins drawing Social Security benefits upon his retirement. c. David accepts a position as a software specialist at Microsoft. d. Gretchen begins an accounting and bookkeeping service in her home, accepting cash as payment, which is not reported to tax authorities.
If the Fed were to push unemployment below NAIRU, it is likely that:
A. the economy would be operating efficiently. B. deflation will send the economy into a deflationary spiral. C. inflation will increase. D. the dual mandate will be met.