Real-world continued inflation is probably a result of continued
A) increases in aggregate demand.
B) decreases in aggregate demand.
C) increases in aggregate supply.
D) decreases in aggregate supply.
A
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Suppose the annual growth rate of GDP in Nepal is 5 percent. In 35 years, GDP in Nepal will double
A) 1.75 times. B) 2.5 times. C) 7 times. D) 24.5 times.
Monetarists believe that changes in the money stock
a. have an immediate effect on the level of income. b. will always have a persistent impact on output for more than two years. c. do not affect the level of income to any great extent. d. have a persistent impact on output for as long as it takes the expected price level to adjust to the actual price level. e. both b and d.
Consumption spending is said to make up about ______ to _______ of most countries spending.
A. 3/4, 7/8 B. 1/2, 2/3 C. 2/3, 3/4 D. 1/3, 1/2
The marginal principle ________ to the determination of the efficient level of pollution abatement because ________.
A. applies; there are tradeoffs in terms of the costs and benefits of pollution abatement B. applies; pollution abatement causes greater harm than benefits C. does not apply; it is immoral to trade a dirtier environment for material wealth D. does not apply; the costs and benefits of pollution abatement cannot be measured