By Gerd Hardack, Dieter Karras, Ben Fine
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Extra resources for A Short History of Socialist Economic Thought
Real GNP is different from nominal or money GNP in that: a. real GNP is money GNP adjusted for changes in the general level of prices for goods and services b. money GNP is usually a smaller figure than real GNP c. money GNP measures income in terms of constant dollars, whereas real GNP measures income in terms of current dollars d. real GNP is equal to money GNP minus depreciation. 2. Net national product is equal to: a. national income minus depreciation b. disposable income minus depreciation c.
Bresciani'Turroni concluded that the authorities simply lacked **the courage to resist the pressure of those who demanded ever greater quantities of paper money, and to face boldly*' the temporary business setback that would no doubt have followed a prompter return to more conservati ve monetary policies. In the economist's view, this lack of courage to curb a developing boom through stricter policies, rather than the burden of World War I debts, was **the fundamental cause of the depreciation of the mark.
None of the above. 10. The major difference between macroeconomics and microeconomics is that: a. microeconomics is concerned with one producing or consuming unit, whereas macroeconomics is concerned with all the producing or consuming units in the world b. microeconomics analyzes economic problems from the point of view of one person, whereas macroeconomics considers everybody's viewpoint. c. in microeconomics the unit of analysis is one producing or consuming unit, whereas in macroeconomics the unit of analysis is the whole economy d.
A Short History of Socialist Economic Thought by Gerd Hardack, Dieter Karras, Ben Fine