Most of the world's nations went off the gold standard in the year __________.
Fill in the blank(s) with the appropriate word(s).
1933
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Economists define technology as
A) machines such as computers. B) entrepreneurship. C) absolute advantage. D) society's knowledge concerning the production of goods.
According to the traditional Keynesian approach, if the government increases taxes, then
A) real Gross Domestic Product (GDP) will fall and the price level will remain constant. B) real Gross Domestic Product (GDP) will fall but the price level will rise. C) both real Gross Domestic Product (GDP) and the price level will fall. D) real Gross Domestic Product (GDP) will remain constant but the price level will rise.
What causes the long-run aggregate supply curve to shift right?
A. scarcity B. economic growth C. inflation D. unemployment
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point A to Point D. This could be explained by
A. an increase in economic growth. B. a change in society's preferences for motorcycles versus hybrid cars. C. a reduction in unemployment. D. an improvement in technology.