Spending on education is likely to raise output per person by ________
A) increasing the productiveness of R&D
B) by increasing the population
C) increasing the fraction of the population engaged in productive activities
D) increasing the saving rate
A
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Which statement is a good argument in support of policy activism?
A) Policy lags are generally longer than the time it takes the self-correcting mechanism to work. B) Activist policies help to ensure stability of the real interest rate. C) Well-considered policies can assist the economy's self-correcting mechanism, thus reducing the variability of inflation and unemployment. D) all of the above E) none of the above
Resources are used only in the production of goods, not services
a. True b. False
A union can influence the demand for labor by:
a. requiring union fees. b. raising union fees. c. effective advertising that convinces customers to buy the "union label." d. all of these.
Which of the following is associated with peaks in the business cycle? a. Relatively high levels of unemployment. b. Recessions
c. Relatively low levels of unemployment. d. Both answers a. and b. above are correct.