Which of the following is considered a determinant of long-run economic growth?
a. Increase in the interest rates
b. Changing expectations
c. Increase in the money supply
d. Growth in productive resources
e. Reduction in government spending
d
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Selective attention refers to the ability to
a. focus on unimportant details. b. keep all information out of memory. c. consider all information that is available. d. focus on elements of a problem and find solutions
You have the assignment of making a recommendation to the Chairman of the Fed during a period of persistent, high inflation. What could you do to restore stable prices? What would you recommend instead if the problem was persistent high unemployment?
Which of the following would result from a tariff?
a. An increase in government budget deficit b. An increase in domestic production c. A greater volume of international trade d. Increased domestic consumption e. Decrease in prices of the imported goods
Financial investments, such as mutual fund purchases, are included in the national income component
a. True b. False Indicate whether the statement is true or false