A Done Midterm 1 1. What are the institutions that help foster the appropriate i

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A Done Midterm 1 1. What are the institutions that help foster the appropriate incentives for economic growth? production and export quotas; and supply and demand . a dependable legal system, property rights, and competitive and open markets communal property rights and absence of a profit-loss system O regulated labor and credit markets; and unions 2. Booms and busts refer to the: monetary inflation and deflation caused by the central bank. e fluctuations in economic activity over time. theory of the second best. decreases in a nation's output growth over time. 3. Monetary and fiscal policies: can reduce the severity of economic busts. are tools used during economic booms but not economic busts. have been proven to be ineffective and are no longer used during recessions only work during times of rapid inflation. . The has the power to regulate the money supply in the United States. Senate President Federal Reserve House of Representatives Inflation can be defined as: the rise and fall of the general level of prices in an economy. the boom and bust cycles of an economy the increase in the general level of prices in an economy. the general rise in the level of output in an economy. maining: 1:40:00 Start: 7:04 PM O Type here to search

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1 B selected is right. These institutions are must for growth according to New growth models

2 fall in incomes because it reduces purchasing at each price

3 D option selected is right

4 option A selected is rise since now less is supplied at each price

5 option A selected us right

Can answer only 4 parts according to Chegg policy Please send other parts as separate question

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