The Lost Decade refers to the years between approximately
A) 1975 and 1985.
B) 1980 and 1990.
C) 1987 and 1997.
D) 1972 and 1980.
E) 1960 and 1970.
B
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Supply-side advocates believe that when taxes and regulations are too burdensome, people will: a. save less
b. work less. c. provide less investment capital. d. do all of the above.
Which of the following results from one group in a society receiving a disproportionate share of wealth than others in that society?
a. Income inequality b. Poverty growth c. Income redistribution d. Economic recession
Answer the following questions:
a. What is the equation of exchange? Explain each component. b. What assumptions are placed on the equation of exchange to generate the quantity theory of money? c. Explain the quantity theory of money and what it implies about the impact of changes in the money supply on real output and prices.
Value added can be determined by:
A. summing the profits of all enterprises in the economy. B. subtracting the purchase of intermediate products from the value of the sales of final products. C. calculating the year-to-year changes in real GDP. D. deflating nominal GDP.