« previous next »

Author Question: In traditional economies, people base economic decisions on the precedents established by previous ... (Read 82 times)

ETearle

  • Hero Member
  • *****
  • Posts: 580
on: Jun 30, 2018
In traditional economies, people base economic decisions on the precedents established by previous generations.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Using the aggregate expenditure-output model, assume the aggregate expenditures (AE) line is below the 45-degree line at full-employment GDP. This vertical distance is called a(n):
 a. inflationary gap.
  b. recessionary gap.
  c. negative GDP gap.
  d. marginal propensity to consume gap.


johnpizzaz

  • Sr. Member
  • ****
  • Posts: 345
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

When taking monoamine oxidase inhibitors, people should avoid a variety of foods, which include alcoholic beverages, bean curd, broad (fava) bean pods, cheese, fish, ginseng, protein extracts, meat, sauerkraut, shrimp paste, soups, and yeast.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

By middle adulthood, most individuals and established and confident in their careers By middle adulthood, most individuals and established and confident in their careers
Economic and Social Development Economic and Social Development
People who are color-blind see colors differently. (a) Those with normal vision see the red leaves. People who are color-blind see colors differently. (a) Those with normal vision see the red leaves.
economic question (having trouble) economic question (having trouble)
economic question (having trouble) economic question (having trouble)
The 1980 Mount Saint Helens eruption obliterated the community at the base of this Cascade volcano. The 1980 Mount Saint Helens eruption obliterated the community at the base of this Cascade volcano.
Video: Factors that increase metabolic rate and heat production

For a complete list of videos, visit our video library