All of the following unambiguously contribute to economic growth EXCEPT
A. increase in government spending.
B. increase in human capital.
C. increase in labor productivity.
D. increase in technology.
Answer: A
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A machine cost $15,000 to install, and has a resale value one year later of $12,000. If the real interest rate is 10%, then the user cost of capital is ________
A) $4,500 B) $1,500 C) $3,000 D) $1,200
Which term is synonymous with a perfectly competitive firm?
a. Price taker b. Oligopoly c. Private enterprise d. Monopoly
Output Total Cost015125233340448558670Table 8.5Refer to Table 8.5. The total variable cost of producing five units of output is:
A. $8.60. B. $43. C. $48. D. $58.
A country has a trade surplus when
A. its exports exceed its imports. B. its government spending exceeds its tax revenues. C. its exports equal its imports. D. its exports are less than its imports.