Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.

During the late nineteenth century, the gold standard was a subject of controversy. Why?

A) Businesses resented fixed exchange rates because of their inability to raise or lower prices. B) Gold flows were erratic and resulted in a series of large economic swings—booms and busts. C) Prices were stable and predictable, but profits fell. D) Governments cheated on printing money, causing inflation problems all over the world.

Deepening of human capital in the U.S. economy focuses: a. more on additional education and training than on a higher average level of work experience. b. more on a higher average level of work experience than on additional education and training. c. more on the reduction of the cost of capital than on additional training

d. more on increasing the stock of physical capital than on higher education.