What effect would economic weakness in Europe due to a sovereign debt crisis have on the U.S. economy?
A) IS shifts to the right
B) IS shifts to the left
C) potential GDP increases
D) potential GDP decreases
B
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Between 1950 and 1980 in the U.S., interest rates trended upward. During this same time period
A) the rate of money growth declined. B) the rate of money growth increased. C) the government budget deficit (expressed as a percentage of GNP) trended downward. D) the aggregate price level declined quite dramatically.
Cooperation in an infinite game
A. is impossible. B. is possible if grim strategies are used. C. is guaranteed. D. is possible if no one cares about the future.
Which of the following is the correct way to calculate marginal utility per dollar?
a. Total utility/price b. Change in total utility/price c. Marginal utility/price d. Quantity/price
The recent growth records of Japan and Hong Kong during the last fifty years indicate that a nation can grow rapidly without which of the following?
What will be an ideal response?