The rise in average living standards experienced by most industrialized countries:
A. has been more rapid since 1950 than before 1950.
B. has been continuous over the course of human history.
C. was more rapid before 1870 than after 1870.
D. has resulted primarily from an increase in population worldwide.
Answer: A
Economics
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If aggregate supply shifts from AS1 to AS2, then the price level will:
Refer to the graph above.
A. Increase and real domestic output will increase
B. Decrease and real domestic output will increase
C. Increase and real domestic output will decrease
D. Decrease and real domestic output will decrease
Economics
Determinants of macro performance work on macro outcomes through
A. Internal market forces. B. International balances. C. External shocks. D. Aggregate supply and demand.
Economics