Long-term growth in production in an economy can be partially explained by:
a. improvements in the rules of the game that facilitate production and exchange.
b. the peaks and troughs of the business cycle or economic fluctuations
c. trade surpluses that lead to accumulations of precious metals.
d. federal government budget deficits.
e. a gradual but consistent increase in the price level.
a
Economics
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If government expenditure increases by $200 billion and taxes simultaneously increase by $200 billion, then aggregate demand
A) remains the same. B) decreases no matter what happens to aggregate supply. C) increases no matter what happens to aggregate supply. D) increases only if aggregate supply increases. E) increases only if aggregate supply decreases.
Economics
Refer to above figure. In the absence of trade, how many Widgets does this country produce?
What will be an ideal response?
Economics