What are the most important characteristics that have shaped Brazil's economic and social progress during the last three decades?
What will be an ideal response?
Discussion should include the large degree of income inequality, the need for land reform as a result of the dualistic nature of the land tenure system and the environmental challenge faced by what is one of the world's most environmentally diverse countries.
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Technological improvements will:
A) leave the production possibilities curve unchanged. B) shift the production possibilities curve inward. C) shift the production possibilities curve to outward. D) necessarily lead to increased unemployment.
Based on the conventional view of fiscal policy and potential GDP in the long run, explain what happens to each of the following if the government runs a budget deficit:
a. the supply of loanable funds to the private sector b. long-term real interest rates c. the capital stock d. the investment rate e. potential GDP