The states that were hit hardest by the bank failures of the late 1980s
a. were primarily dependent on agriculture and the oil industry
b. were primarily dependent on tourist revenues
c. were located on the West coast
d. were primarily dependent on fishing
e. were located in the Northeast
A
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If average labor productivity increases, real GDP per person:
A. increases. B. decreases. C. may increase or decrease depending on the change in the share of population employed. D. remains constant.
Suppose the firms in a perfectly competitive industry are earning positive economic profits
How will these positive profits affect the flow of resources into the industry? How will the equilibrium quantity and price change in the industry because of the profits?
During which of the following decades has the output ratio been staying closest to zero?
A) 1960s B) 1970s C) 1980s D) 1990s
What does research suggest as to the relationship between the independence of the central bank and inflation? What is the rationale for this relationship?
What will be an ideal response?