Empirical evidence seems to suggest that in industrialized economies, government ownership has:
a. grown more rapidly than the economy has risen over time.
b. has disappeared in favor of state capitalism
c. has either stayed the same or fallen.
d. we cannot answer because we cannot measure it
e. all of the above
C
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D. a higher price level will decrease the real value of many financial assets and therefore reduce spending
A. increase the amount of U.S. real output purchased. B. increase U.S. imports and decrease U.S. exports. C. increase both U.S. imports and U.S. exports. D. decrease both U.S. imports and U.S. exports.
If children go to school and become productive members of society,
A) a negative externality is created by the schools. B) a positive externality is created by the schools. C) no externality is created by the schools. D) an externality is created that may be positive or negative.
Activists believe that postwar instability is primarily the result of
A) erratic growth of private investment. B) uneven changes in real government expenditures. C) uneven changes in private consumption of durables. D) A and C are both correct.
All of the following are arguments in favor of restricting trade EXCEPT
A) comparative advantage. B) protecting domestic jobs. C) protecting emerging industries. D) dumping.