The economy in the period 1950 to 1998 behaved differently than the economy in the 1870 to 1940 time period. Economists explain this difference
a. in part because of the use of stabilization policy.
b. because of increases in U.S. population due to the "baby boom."
c. in part because of the globalization of the economy.
d. in part because of the use of competition policy.
a
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If a number greater than the mean of a series of observations is added to the series, the new mean is:
A) smaller than the original mean. B) greater than the original mean. C) same as the original mean. D) either greater or smaller than the original mean depending on the number of observations in the series.
Refer to Figure 15-16. In the absence of any government regulation, the profit-maximizing owners of this firm will produce ________ units and charge a price of ________
A) Q3 units; P3 B) Q1 units; P4 C) Q2 units; P2 D) Q0 units; P0