Refer to the information provided in Figure 7.2 below to answer the question(s) that follow.
Figure 7.2Refer to Figure 7.2. The average product with two workers is ________ lawns mowed.
A. 4
B. 5
C. 5.5
D. 11
Answer: A
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Use the following graph to answer the next question. The massive increase in government spending during World War II moved the economy in the span of a few short years from mass unemployment and price stability to "overfull" employment. This situation can be best illustrated in the figure above as a ________.
A. shift from AD2 to AD1 B. movement along AD1 from Q4 to Q1 C. movement along AD2 from Q2 to Q3 D. shift from AD1 to AD2
Keynes believed
A. recessions were temporary. B. budget deficits were to be avoided at all costs. C. any kind of spending was necessary to get us out of a depression. D. both wages and prices were downwardly flexible.
If interest rates in Sweden go up relative to the rest of the world, the
A) demand for Swedish currency will fall. B) demand for Swedish currency will rise. C) supply of Swedish currency will fall. D) supply of Swedish currency will rise.
If more foreign tourists visited the United States, this would
A. lower our merchandise trade imbalance. B. lower our overall trade imbalance. C. raise our merchandise trade imbalance. D. raise our overall trade imbalance.