If a government is going to promote economic progress, which of the following is most important?
What will be an ideal response?
protection of people and their property from aggressors and the provision of a few goods that are difficult to supply through markets
You might also like to view...
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; increase C. decrease; decrease D. increase; decrease
Consumers ________ from a tariff because they pay a ________ price to producers so they purchase a ________ quantity of the good
A) lose; lower; smaller B) win; lower; larger C) win; higher; smaller D) lose; higher; smaller E) lose; higher; larger
For the firm in the real intertemporal model with investment
A) depreciation occurs more quickly if the firm produces more output. B) depreciation takes place at a constant rate. C) depreciation can be slowed with more maintenance. D) depreciation is always 100%.
One reason that we might observe a rise in net capital outflow could be interest rates in the:
A. rest of the world are declining, relative to the U.S. B. U.S. are declining, relative to the rest of the world. C. U.S. and the world are all declining. D. U.S. and the world are all increasing.