Which theory of economic growth concludes that growth can continue indefinitely?
A) the classical theory
B) the neoclassical theory
C) the new theory
D) all of the theories
C
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Is the minimum wage fair?
A) Yes, because all workers benefit because they are paid more. B) No, because it enhances the prospects of voluntary exchange. C) No, because workers who lose their jobs are made worse off. D) Yes, because firms must pay a wage closer to a living wage. E) Yes, because workers need the extra income.
One effect of a shrinking economy is
A) an increase in the discount rate. B) a decrease in the discount rate. C) an increase in the federal funds rate. D) a decrease in the federal funds rate.
Which of the following changes should make activist policy makers more confident in their capacity to make good policy recommendations?
A) structural change in the economy B) changes in multipliers C) a longer estimated lag for monetary policy D) none of the above
A good in the United States is worth $2,000 and the same good in Mexico is worth 50,000 pesos. This implies that $1 U.S. is worth _____ pesos
a. 25 b. 30 c. 15 d. 24