All of the following are economic implications of the 1995-2012 rise in the average rate of productivity growth except:
A. a lower natural rate of unemployment.
B. larger outward shifts of the economy's production possibilities curve.
C. an end to the business cycle.
D. a greater rate of economic growth.
C. an end to the business cycle.
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When the equilibrium price level adjusts to an increase in autonomous investment spending, the impact of the multiplier effect resulting from that spending increase
A) will increase nominal GDP by an amount smaller than the multiplier effect would indicate. B) is only felt when there are changes in consumption. C) will increase real GDP by an amount smaller than the multiplier effect would indicate. D) will have no impact on the real GDP.
What was the World Bank designed to do?
(a) Serve as a long-term lender (b) Serve as a short-term lender (c) Make both short and long-term loans (d) Make grants-in-aid, but not to be a lending institution
The socialization rationale for public education implies that private schools _____
a. are more segregated along class and perhaps racial lines b. are more homogenous c. are often organized around an exclusionary orientation d. all of the above
The shape of the short run aggregate supply curve is generally believed to be
a) a decreasing function of the price level b) an increasing function of the interest rate c) an increasing function of the price level d) vertical e) backward-bending