The development of modern rich nations can be characterized by three? stages:
What will be an ideal response?
agricultural? stage, followed by manufacturing? stage, and lastly the tertiary stage.
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When the Fed purchases additional securities and shifts to a more expansionary monetary policy,
a. the inflation rate will rise almost immediately. b. the growth of output and employment will increase quickly. c. several months will typically pass before the shift in policy exerts much impact on output and employment. d. this policy will eventually lead to a decline in the general level of prices if it is continued for a prolonged period of time.
Which of the following would not shift the aggregate supply curve?
A. An increase in labor productivity. B. A decline in the price of imported oil. C. A decline in business taxes. D. An increase in the price level.