A nation's infrastructure refers to:
A. its ability to realize economies of scale.
B. its stock of technological knowledge.
C. public capital goods such as highways and sanitation systems.
D. the productivity of its labor force.
C. public capital goods such as highways and sanitation systems.
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When the Fed engages in an open market sale, the money supply ________ and the nominal interest rate ________.
A. decreases; decreases B. increases; increases C. decreases; increases D. increases; decreases
The total product curve shows the relationship between total product and
A) cost. B) the quantity of labor. C) the average product. D) the marginal product. E) the marginal cost.
Suppose that nominal GDP were $1200 billion in 1990 and $2000 billion in 1995. The implicit GDP deflator was 1.00 in 1990 and 1.50 in 1995. From this we can infer that, between 1990 and 1995
A) nominal GDP rose by 33%. B) prices rose by 66%. C) real GDP remained constant. D) real GDP rose by about 11%.
Which of these is most likely to result when a demand-management policy is used in an economy that is experiencing stagflation?
a. A decrease in investment spending b. An increase in the rate of inflation c. An increase in unemployment d. A decrease in the rate of inflation e. A decrease in real GDP