During World War II,
a. government purchases of goods and services increased fivefold.
b. the economy's production increased about 25 percent.
c. unemployment fell to about 5%.
d. All of the above are correct.
a
Economics
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As a general rule, a recession occurs when there is a six consecutive month fall in:
a. nominal GDP. b. real GDP. c. the price level. d. the trade balance.
Economics
The automatic stabilizers are:
a. Powerful engines that can move nations closer to full employment and price stability. b. Most beneficial to nations that are far away from their ideal economic position. c. Most beneficial to nations that are close to the ideal economic position. d. Very beneficial to nations regardless of whether they are far above or far below full employment.
Economics