The new growth theory attempts to explain
a. the rate of population growth within a country.
b. the rate of capital accumulation within a country.
c. the factors that determine the size of the Solow residual.
d. why there are diminishing returns to capital.
C
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Find the real exchange rate for the following case: Assume that the representative basket of European goods costs 150 euros and the representative U.S
basket costs $90, and the dollar/euro exchange rate is $0.80 per euro, then the price of the European basket in terms of U.S. basket is:
The income transferred by the government from a citizen who is earning income to another citizen is referred to as:
a. fiscal spending. b. transfer payment. c. budgetary allowance. d. taxation. e. internal debt.
Ralph's Ski Shop is a local monopoly in a regional market. This type of situation can result from all of the following except:
a. small population relative to output needed for scale economies b. patent protection c. control of local zoning or limited operation permits d. long distance to alternative ski shops e. multiple products
In the Full Employment and Balanced Growth Act of 1978, price stability means that
A. Inflation is less than 3 percent per year. B. The inflation rate is the same each year. C. Inflation is less than 5 percent per year. D. There is zero inflation each year.