Economists agree that the U.S. economic performance in the 1990s was remarkable in that
a. high unemployment was coupled with high economic growth, a coupling that never existed before
b. full employment was achieved, albeit with substantial inflation
c. more business cycles appeared than in any previous decade
d. the severity of the cycles—three in number—were the most pronounced in American cycle history
e. it represented the longest, sustained prosperity in American history
E
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As the money wage rate increases,
A) potential GDP increases. B) potential GDP decreases. C) aggregate supply increases. D) aggregate supply decreases. E) aggregate supply and potential GDP do not change.
What do rational expectations theorists believe? What is their critics' point of view?
More than one-third of the unemployed are recent entrants into the labor force
a. True b. False Indicate whether the statement is true or false
What percent of taxable income is reported on tax returns according to an Internal Revenue Service survey?
a. 85% b. 75% c. 65% d. 55%