Governments should promote education because education contributes to the nation's
A) free markets.
B) international trade.
C) economic growth potential.
D) employment.
E) protection of property rights.
C
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What factors increase potential GDP? Include a definition of potential GDP in your answer
What will be an ideal response?
Welfare data show that in the United States
a. most welfare recipients receive benefits only for a short time b. welfare encourages young women to have children c. children brought up on welfare tend to remain on welfare as adults d. having poor parents does not increase the chances of a child's being on welfare as an adult e. children of poor parents have a 50 percent chance of being middle-income adults
The Congressional Budget Office estimates the size of the government purchases multiplier to be
A) 0.1 - 0.6. B) 0.3 - 1.5. C) 0.5 - 2.5. D) 2.0 - 3.0.
Policymakers may be uncertain about the structure of the economy because
A. initial releases of data may be less accurate than later data releases. B. they are not aware of modern macroeconomic modeling techniques. C. they don't know the predominant source of shocks to the economy. D. they don't know how shocks affect people's expectations.