Why does popular democracy, as defined in the U.S. Constitution, contribute to long-term economic growth and political stability?
(a) It allows regular change in the structure of the government.
(b) It provides incentive to invest, innovate and invent.
(c) It permits the President of the U.S. to choose fiscal policies to advance
contemporary mercantilism.
(d) It transfers wealth from the extremely wealthy to the desperately poor.
(b)
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How many people are employed if the labor force participation rate is 60%, there are 3 million people unemployed, and there are 30 million people not in the labor force?
A) 54 million B) 48 million C) 42 million D) 30 million
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.