Welfare programs are designed to address the:
A.) "HOW" question.
B.) "FOR WHOM" question.
C.) Issue of scarce resources.
D.) "WHAT" question.
B.) "FOR WHOM" question.
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Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher
Investment is
A) spending by businesses on things which can be used to produce goods and services in the future. B) the production of goods for immediate satisfaction. C) the purchasing of stocks and mutual funds. D) goods bought by households.
The set of collectively held beliefs, values, and norms among the members of a firm that influence individual behavior is referred to as
A) network values. B) horizontal values. C) implicit contracts. D) corporate culture.
External shocks can
A. Improve the validity of economic forecasts based on leading economic indicators. B. Cause economic forecasts based on leading economic indicators to become inaccurate. C. Be predicted using standard statistical techniques. D. Assist the Fed with the implementation of monetary policy.