Using the aggregate demand and aggregate supply model, an increase in what curve is by itself consistent with the changes in prices and output that occurred during World War II?
Aggregate demand
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Three arguments used to promote trade barriers are the national security argument, the infant-industry argument, and the dumping argument. Explain each of these arguments and evaluate whether each one has any flaws
What will be an ideal response?
What is the most important contrast between the segmented markets theory and the expectations theory?
A) The expectation theory states that investors view similar assets that differ only with respect to maturity as perfect substitutes. B) The segmented markets theory states that investors view similar assets that differ only with respect to maturity as perfect substitutes. C) The expectations theory does a better job of explaining why yield curves typically are upward-sloping. D) The segmented markets theory does a better job of explaining why yields on instruments of different maturities tend to move together.
Which of the following statements describes the presence of diminishing returns? All else equal,
a. Marginal product curve is constant b. Marginal product curve is falling and negative c. Marginal product curve is positive and rising d. Marginal product curve is positive and falling
Unemployment compensation payments:
a. rise during a recession and thus reduce the severity of the recession. b. rise during a recession and thus increase the severity of the recession. c. rise during inflationary episodes and thus reduce the severity of the inflation. d. fall during a recession and thus increase the severity of the recession.