Modern economic growth began
What will be an ideal response?
with the Industrial Revolution. correct
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A reduction in unemployment benefits will
A) not change the amount of frictional unemployment because unemployment benefits affects only structural unemployment. B) increase the amount of frictional unemployment. C) decrease the amount of frictional unemployment. D) increase the amount of cyclical unemployment. E) not change the amount of frictional unemployment because unemployment benefits affects only cyclical unemployment.
For almost all goods, the:
A. lower the price goes, the higher the quantity demanded. B. higher the price goes, the more luxurious it is. C. lower the price goes, the higher demand is. D. higher the price goes, the higher the quantity demanded.
A monopolistically competitive firm can raise its price somewhat without fear of great change in unit sales because of
A. Brand loyalty. B. Economies of scale. C. Large market shares of firms in the market. D. Inelastic demand.
According to the Taylor rule:
A. if real GDP rises by 2 percent above potential GDP, the Fed should raise the real federal funds rate by 1 percentage point. B. when real GDP is equal to potential GDP and inflation is equal to its target of 4 percent, the federal funds rate should be kept at 2 percent. C. if inflation falls by 1 percentage point below its target of 2 percent, then the Fed should raise the real federal funds rate by one-half a percentage point. D. all of these are appropriate Fed actions.