During the Great Depression of the 1930s, the aggregate demand curve intersected the aggregate supply curve on
a. the horizontal segment of the aggregate supply curve
b. the upward-sloping segment of the aggregate supply curve
c. the vertical segment of the aggregate supply curve
d. both the horizontal and vertical segments
e. both the upward-sloping and vertical segments
A
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Goals which are concerned with creating and maintaining employee and customer satisfaction and social responsibility are referred to as ________ objectives
A) social B) noneconomic C) welfare D) public relations
Which of the following properties is common to a partnership business?
a. Limited liability b. Centralized ownership and management c. Continuity and unlimited existence of the business d. Co-ownership of contributed assets
Assume the North Island of New Zealand can produce 2,000 fishing poles or 20 kayaks per day and the South Island can produce 1,000 fishing poles or 5 kayaks per day. The South Island has a comparative advantage in producing kayaks
a. True b. False
Which of the following is an observation made by economist Michael Kremer?
a. World growth rates increased as the population increased. b. Technological progress allows for increasing population because of advances in agriculture. c. World population is growing so rapidly that soon it will outstrip natural resources and our standard of living will decline. d. All of the above are observations made by Kremer.