Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential
B. higher; higher
C. higher; potential
D. lower; higher
Answer: A
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Based on the data in the table above, what does GDP equal?
A) $8,900 billion B) $10,200 billion C) $9,800 billion D) $10,400 billion E) $10,000 billion
From 1680 to 1770 average ship speeds:
a. increased by 100 percent. b. increased by 80 percent. c. increased by 75 percent. d. decreased by 50 percent. e. did not change appreciably.
The two flows, or things being exchanged, in the circular flow model are:
A. inputs and outputs. B. imports and exports. C. inputs/outputs and money. D. land and labor.
One of the functions of an institution like the Federal Reserve System is to ______.
a. make loans and provide banking services to individuals b. regulate the buying and selling of stocks and bonds c. act as the central government’s primary bank d. manage and review taxpayers’ annual returns