The difference in economic growth in North Korea and South Korea can be primarily attributed to differences in ________.
A) the proximate causes of prosperity B) geography
C) culture D) institutions
Question 2
Assume equilibrium real GDP per year is equal to full-employment real GDP. If aggregate demand falls, then
A) the price level will increase in the short run and decrease in the long run.
B) long-run aggregate supply will eventually decrease too.
C) there will be an expansionary ga