Which of the following is not a factor of production?
A. A bulldozer.
B. Six thousand acres of farmland.
C. A psychiatrist.
D. $100,000 cash.
Answer: D
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Average growth rates of per capita income were close to zero, on average, prior to the Industrial Revolution.
Answer the following statement true (T) or false (F)
Is there a tradeoff between fiscal policy that is timely and fiscal policy that is targeted?
A. No, the video gives several examples of timely fiscal policy that was targeted. B. Yes, because it takes a very long time to decide what the targets should be. C. Yes, because the industries that need help also move the slowest. D. Yes, because it's hard to create targeted fiscal policy quickly.
International capital-flow shocks tend to be less disruptive with floating exchange rates than with fixed exchange-rates.
Answer the following statement true (T) or false (F)
Other things being equal, what is the effect of government deficit increases on interest rates?
A. Interest rates decline. B. Interest rates rise. C. There is no impact unless the Federal Reserve decides to alter the money supply. D. Interest rates hold constant because the demand for credit decreases.