The long expansions during the 1990s and 2000s were the result of mass business adoption of computers and smart phones. This argument would be made by ________.
A. the Self-Correction View of macroeconomics
B. Mainstream economists
C. the Real Business Cycle theory
D. the Monetarists
Answer: A
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Applying for a loan in five-person groups is an example of:
A. family and friends lending. B. party of five lending. C. group responsibility. D. trade-off.
Perfect price discrimination:
A. requires each customer to pay exactly his or her willingness to pay. B. maximizes consumer surplus. C. is not efficient. D. minimizes producer surplus.
In a representative democracy, government action results from the
a. choices of voters. b. legislative decisions by politicians. c. political action of organized interest groups. d. complex interaction of all of the above.
Statistics show that China will soon overtake the United States in terms of per capita GDP
a. True b. False