If an improvement in production technology causes a decrease in production costs, the result is a(n)
a. decrease in quantity supplied
b. increase in demand
c. increase in supply
d. improvement is working conditions
e. increase in quantity supplied
C
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Which event was most important in promoting the belief that the U.S. government should work to ensure economy-wide stability?
A) World War II B) the Civil Rights Movement C) the California Gold Rush D) the Great Depression
The U.S. money supply measure that consists of currency plus travelers checks and check able deposits is referred to as
a. M1. b. M2. c. M3. d. M1 + M2.
From 1960 to about 1980 the net capital outflow of the U.S. was typically
a. small but always positive. b. small and sometimes negative and sometimes positive. c. large and positive. d. large but sometimes negative and sometimes positive.
When equilibrium GDP falls below potential GDP, an inflationary gap exists.
Answer the following statement true (T) or false (F)