In the above figure, the shift from AD1 to AD2 might have been the result of
A) an increase in government expenditure.
B) a decrease in taxes.
C) an increase in the quantity of money.
D) All of the above answers are correct.
D
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Slope is calculated as the
A) change in the vertical variable. B) change in the vertical variable divided by the change in the horizontal variable. C) change in the horizontal variable divided by the change in the vertical variable. D) the vertical axis divided by the horizontal axis.
Even though it is generally true that the more goods and services people have, the better off they are, GDP provides only a rough measure of well-being
Assuming language is not an issue, what other factors besides GDP might you consider when deciding where to live and work?
In the Solow growth model, countries with identical total factor productivities, identical labor force growth rates, and identical savings rates
A) always have identical levels of capital per worker and output per worker. B) in equilibrium, have identical levels of capital per worker and output per worker. C) in equilibrium, have identical levels of capital per worker but not necessarily identical levels of output per worker. D) in equilibrium, have identical levels of output per worker but not necessarily identical levels of capital per worker.
With respect to events like global warming some economists suggest using falling discount rates because
A) exponential discounting virtually gives no weight to (large) costs incurred far into the future. B) exponential discounting weights (large) costs incurred far into the future heavily. C) events far in the future do not affect us. D) we should not care about costs far in the future.