Guiding the market through strategic coordination of business investments to increase export market shares is known as
(a) development planning.
(b) industrial policy.
(c) shifting terms of trade.
(d) all of the above.
(e) none of the above.
B
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The economic life cycle describes how young people usually have higher savings rates than middle-aged people
a. True b. False Indicate whether the statement is true or false
Which of the following shifts the short-run aggregate supply curve right?
a. both an increase in the price level that is greater than expected and an increase in the expected price level. b. an increase in the price level that is greater than expected, but not an increase in the expected price level. c. an increase in the expected price level, but not an increase in the price level that is greater than expected. d. neither an increase in the price level that is greater than expected nor an increase in the expected price level.
Given the aggregate demand curve, a beneficial supply shock will _____
Fill in the blank(s) with the appropriate word(s).
Normal profits are:
A. The profits reported by accountants on a firm's annual financial statement B. Identical to economic profits C. Determined by subtracting total costs from total revenues D. Considered an implicit cost by economists