One important factor that affects economic growth is
A. which political party is in power.
B. the amount of money supply.
C. the number of workers in heavy industry.
D. the rate of saving.
Answer: D
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John has an economics test tomorrow. He must study and has planned the rest of his day so that he can fit some study time in. He has decided to go to the gym and then study for several hours. Which of the following statements is TRUE?
A) John did not use the economic way of thinking because his decision on how to allocate his time did not involve money. B) John's decision on how to allocate his time is inconsistent with the rationality assumption since he has decided to go to the gym. C) John's decision on how to allocate his time is consistent with the rationality assumption since the decision is intended to make him better off. D) John's decision does not involve his pursuit of self-interest.
Cut on tax & debt
What will be an ideal response?
Stagflation consists of
A) high inflation and low unemployment. B) low inflation and high unemployment. C) high inflation and high unemployment. D) high unemployment and an economy in a deep recession. E) none of the above
The industrial North wanted the _______ to buy their goods rather than import goods from ________ so they erected ____________ tariffs.
Fill in the blank(s) with the appropriate word(s).