Most economists agree that the immediate cause of most business cycle variation is:
A. an unexpected change in the productivity of workers.
B. an unexpected change in the level of total spending.
C. the invention of new products.
D. the growth and subsequent bursting of financial bubbles.
B. an unexpected change in the level of total spending.
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If gas prices today were $2.00 per gallon, in terms of history, this would be
A. not an all-time high but rather high in inflation-adjusted terms. B. an all-time high in nominal terms. C. about the long-inflation-adjusted term historical average in inflation-adjusted terms. D. an all-time high in inflation-adjusted terms.
When a Chinese company builds an auto plant in the United States, the immediate result of this Chinese investment in the United States is a ________ item in the U.S. ________ account
A) surplus; current B) surplus; financial C) deficit; current D) deficit; financial
The individual supply of a monopolist
a. coincides with the market demand curve. b. is below the market supply curve. c. is below the firm’s average revenue curve. d. coincides with the market supply curve.
One possible source of the first Eurocurrency account was a result of the
A) Cold War. B) Second World War. C) Oil Crisis in the 1970s. D) the Erie Canal.