What happened to government expenditures during World War II?
a. They increased.
b. They decreased.
c. They were suspended.
d. They were capped.
a. They increased.
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Economic growth occurs when there is
A) lower taxes on individuals. B) growth in government spending. C) growth in technology that increases productivity. D) more environmental regulation.
A competitive market is in equilibrium. Bagels and cream cheese are complementary goods. Suppose that the price for flour, which is used to produce bagels, increases. The equilibrium price of cream cheese ________, and the equilibrium quantity of cream cheese ________.
A) rises; decreases
B) rises; increases
C) falls; decreases
D) does not change; does not change
E) falls; increases
In a closed economy, private saving, , is equal to
A) I - (G - T). B) I + (G - T). C) I + (G + T). D) I - (G + T). E) I + (G - T) + C.
The rate of inflation tends to remain constant when
A) the unemployment rate is above the NAIRU. B) the unemployment rate equals the NAIRU. C) the unemployment rate is below the NAIRU. D) the unemployment rate increases faster than the NAIRU increases.