The slope of a horizontal line is
A. zero.
B. infinite.
C. continually changing.
D. negative.
Answer: A
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The American economy is ________ economy in the world today.
A. the largest and the fastest growing B. neither the largest nor the fastest growing C. the largest, but not the fastest growing D. the fastest growing, but not the largest
Which of the following types of unemployment is likely to exist in an economy that is at its potential output level?
a. Cyclical unemployment only b. Structural unemployment only c. Frictional, cyclical, and seasonal unemployment only d. Frictional, seasonal, and structural unemployment only e. Seasonal unemployment only
For a given level of inflation, if there is a greater reluctance by foreigners to purchase domestic goods, then the ________ shifts ________.
A. aggregate demand curve; left B. short-run aggregate supply line; upward C. short-run aggregate supply line; downward D. aggregate demand curve; right
Which combination of fiscal policy actions would most stimulate an economy in a deep recession?
A. Increase in taxes and decrease in government spending B. Decrease in taxes and increase in government spending C. Increase in taxes and government spending D. Decrease in taxes and government spending