The benefits to a program are more difficult to quantify in dollar terms that the costs to a program
a. True b. False
a
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Why did India's economic growth rate lag far behind growth rates in South Korea, Japan, and Taiwan between 1960 and 1999?
A) Indian households saved too much and spent too little. B) Indian government officials opened the nation up to free international trade. C) India engaged in central economic planning. D) India has too small of a population to generate a highly specialized division of labor.
The money-creation multiplier is affected by the
A) public's demand for currency as a proportion of demand deposits. B) bank reserve-holding ratio as a proportion of demand deposits. C) rediscount rate applied to loans from the Fed to banks. D) Both A and B are correct.
Normative economics is concerned with
A) value judgments. B) opinions. C) cause-effect relationships. D) observations that can be proved. E) both a and b
If marginal cost is less than average variable cost, average variable cost will:
A. increase as output rises. B. decrease as output rises. C. equal average total cost. D. remain constant as output rises.