Growth accounting refers to the method used to
A) identify the contribution of economic growth from increased capital, labor, and technological progress.
B) measure growth in the capital stock.
C) measure the growth in the labor force.
D) identify the costs of promises made by the government today but paid for by future generations.
A
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If you believe that velocity is constant and that the aggregate supply curve is vertical, then the quantity theory of money would predict that a doubling of the money supply would cause a doubling of
A. nominal output and real output. B. nominal output and no change in real output. C. real output and no change in nominal output. D. the price level and real output.
The mangers of Healthy Snacks and Healthy Bars are engaged in a strategic interaction in which their interests are aligned, but there is more than one possible equilibrium. All of the following can help the managers determine the equilibrium outcome except which one?
A) an announcement made by either firm regarding their future plans B) bargaining C) a focal point D) the Pareto criterion
Expansionary fiscal policy in an open economy has a
a. greater effect than in a closed economy. b. similar effect in a closed economy. c. smaller effect than in a closed economy. d. greater effect than monetary policy.
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower