Economic growth is:
A. about the quality of life for all sectors of society.
B. an indicator of individual poverty.
C. a measurement of available resources.
D. the measure of changes in real GDP.
D. the measure of changes in real GDP.
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The U.S. dollar is called
A) frail money because wear and tear ruins paper bills. B) convertible money because the government stands ready to convert it into gold or silver. C) fiat money because the law decrees it is money. D) faith money. E) commodity money, because it is convertible into gold.
When aggregate demand increases, there is a movement ________ along the AS curve and ________
A) up; an upward shift of the short-run Phillips curve B) down; a movement down along the short-run Phillips curve C) up; a movement up along the short-run Phillips curve D) up; a movement down along the short-run Phillips curve E) down; a downward shift of the short-run Phillips curve
Which group of economists argues that the stock market crash of 1929 significantly reduced wealth, causing consumption to fall and resulting in a significant downturn in residential construction and investments?
(a) Classical economists. (b) Keynesian economists. (c) Monetarists. (d) Austrians.
Government intervention
a. can provide incentives to conduct business in an illegal black market b. plays no role in generating wealth c. is the best way to eliminate poverty d. does not enforce property rights