Which of the following describes the Soviet Union's economy through most of the second half of the 20th century?
A) The Soviet economy grew slowly because of the slow rate of technological change.
B) The Soviet economy grew because it added labor through immigration policy in the 1950s.
C) The Soviet economy increased capital per worker very slowly from 1950 through 1980.
D) The Soviet economy grew rapidly in the latter half of the 20th century.
A
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The simple quantity theory of money predicts that changes in
A) the money supply lead to strictly proportional changes in the price level. B) the money supply do not affect the price level. C) the price level lead to strictly proportional changes in velocity and GDP. D) velocity lead to nearly proportional changes in the money supply.
When an economy is experiencing a negative output gap, there is:
A. inflationary pressure due to low demand. B. significant inflationary pressure due to low demand. C. inflationary pressure due to high demand. D. significant inflationary pressure due to high demand.
The mechanism by which buyers and sellers negotiate an exchange is called a/an
A. meeting. B. market. C. equilibrium. D. model.
A curved line may have a positive slope or a negative slope, but it cannot have both positive and negative areas of slope
a. True b. False