The most consistent force for economic growth and progress is
A. government regulation.
B. economic competition.
C. technology integration.
D. the gross domestic product.
Answer: B
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At higher rates of interest
A) businesses demand more investment because there are more funds available to invest. B) businesses demand more investment because future profitability is likely to be greater. C) households save more because they get a greater return on their savings. D) households save less because it is more expensive to save.
The long-run aggregate supply curve is:
A. a horizontal line. B. an upward-sloping line. C. a vertical line. D. a downward-sloping line.
The market demand curve in perfect competition is found by
A. the interaction of supply and demand at the individual firm and consumer levels. B. horizontally summing the demand curves of the individual consumers. C. horizontally summing the supply curves of the individual firms in the industry. D. utility maximizing behavior of the "representative consumer."
Policymakers may be uncertain about the structure of the economy because
A. initial releases of data may be less accurate than later data releases. B. they are not aware of modern macroeconomic modeling techniques. C. they don't know the predominant source of shocks to the economy. D. they don't know how shocks affect people's expectations.