In the 1980s, the U.S. had recessions in ________ and __________.
Fill in the blank(s) with the appropriate word(s).
1980; 1981-1982
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Explain how the aggregate demand curve is related to the C + I + G + X curve
What will be an ideal response?
Assume a country is required by law to balance the budget every year. Suppose aggregate demand falls, causing a recession and a budget deficit
To balance the budget, what would the government need to do with the level of government spending and taxes? How would these changes in government spending and taxes affect aggregate demand and the economy?
Over the past 160 years in the United States, life expectancy
A) increased up to the 1950s and then declined for the next 60 years. B) has more than doubled. C) has slightly declined. D) has remained fairly constant.
If a useful good or service exists in such abundance that anyone can readily obtain it without much effort,
a. it is not scarce, but it is an economic good. b. it is scarce, but it is not an economic good. c. it is scarce, and it is an economic good. d. it is neither scarce nor is it an economic good.