A. is vertical
B. is negatively sloped
C. has a slope that is determined by how fast people adjust their price expectations
D. is positively sloped
A. decreases unemployment
B. decrease growth
C. increases unemployment
D. decreases inflation
A. The sum of the growth rate of output and the inflation rate
B. The sum of the natural rate of unemployment and the actual rate of unemployment
C. The sum of the inflation rate and the central bank’s refinancing rate
D. The sum of the unemployment rate and the inflation rate
A. capitalism exploits the worker and socialism exploits the property owner
B. capitalism relies on the market to make economic decisions and socialism uses central planning
C. capitalism grows through rent seeking and socialism grows through government direction
D. capitalism relies on consumer satisfaction to dictate choices and socialism relies on producer satisfaction
A. monopolistic business from abroad
B. reactionary ruling coalitions
C. weak domestic middle class
D. All of the above
A. Organization for Economic Cooperation and Development and Development
B. Oil Exporting Countries Development
C. Organization for Environmental cooperative Department
D. Open Economies Caucus on Development
A. Supply
B. infrastructure
C. agriculture
D. services
A. a country is poor because it has lower productivity but high savings
B. as countries grow richer they save less
C. poverty perpetuates itself in mutually reinforcing circles on supply and demand sides
D. market size is large in LDCs
I- the migration of serfs to the town
II- factory competition with handicraft and manorial production
III- expanded transport trade, discovery and new international markets
IV- the rise of the business corporation
A. I and II only
B. II and III only
C. I, II and III only
D. IV only
I- laissez faire
II- the invisible hand
III- free trade policy
IV- competitive markets
A. I and II only
B. II and III only
C. I , II and III only
D. I , II , III and IV