Structural stagnation is used to describe a:
A. downturn, followed by a period of slow growth that is not expected to speed up anytime soon without major legal changes in the economy.
B. downturn, followed by a period of slow growth that is not expected to speed up anytime soon without major structural changes in the economy.
C. downturn, followed by a period of slow growth that is not expected to speed up anytime soon without major cyclical changes in the economy.
D. downturn, followed by a period of slow growth that is not expected to speed up anytime soon without major political changes in the economy.
Answer: B
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What is measured on the vertical axis of the aggregate demand graph?
A) unemployment B) nominal income C) the price level D) real GDP per year
Which of the following is an example of a microeconomic decision?
A) an individual deciding how to allocate the time he or she has for work and leisure B) a small shoe factory deciding how much leather to purchase for the next quarter's production need C) a multinational company deciding where to relocate its world headquarter D) All of the above answers are correct.