The deep recession of 1973-1975 was mainly caused by
A. higher oil prices.
B. slower money growth.
C. flawed technology that caused a drop in TFP.
D. an unexplained drop in business optimism.
Answer: A
You might also like to view...
Which of the following is a measure of economic growth that is most useful for comparing changes in standards of living?
A. increases in real GDP B. increases in real GDP per capita C. growth in nominal GDP D. decreases in the rate of unemployment
Economists use elasticity as a tool to measure
a. the relationship between people's attitudes and their income b. the relationship between people's willingness to supply a good and their willingness to demand that good c. people's sensitivity to changes in price or income d. the effect of changes in supply on people's willingness to demand goods e. the effect of changes in supply on the government's ability to tax
A firm will shut down in the short run if
a. TR ? TC > TFC. b. TR + TC > TFC. c. TC ? TR > TFC. d. TFC + TVC > TR.
Which of the following is an exogenous variable in the Three-Sector-Model?
a. Real risk-free interest rate b. Required reserve ratio c. Quantity of real credit per time period d. Quantity of currency per time period e. All of the above are exogenous.