Real GDP per capita increases if the population grows at a rate faster than real GDP
a. True
b. False
Indicate whether the statement is true or false
False
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Suppose it takes Dan 5 minutes to make a sandwich and 15 minutes to make a smoothie, and it takes Tracy 6 minutes to make a sandwich and 12 minutes to make a smoothie. Which of the following statements is correct?
A. Dan should specialize in both sandwiches and smoothies. B. Dan should specialize in smoothies, and Tracy should specialize in sandwiches. C. Dan should specialize in sandwiches, and Tracy should specialize in smoothies. D. Tracy should specialize in sandwiches and smoothies.
The Fed's purchase of U.S. government securities constitutes
a. a restrictive policy because it lowers the amount of total reserves in the banking system. b. a restrictive policy because it lowers the amount of excess reserves in the banking system. c. an expansionary policy because it raises the amount of total reserves in the banking system. d. an expansionary policy because it lowers the amount of required reserves in the banking system.
From a public choice viewpoint, the persistent budget deficits of recent decades are
a. surprising, because politicians have a strong incentive to balance the government's budget. b. an expected result, because the political incentive structure makes it attractive for politicians to levy taxes rather than spend on current programs. c. surprising, because politicians have a strong incentive to run budget surpluses and thereby indicate that their actions have generated a profit. d. an expected result, because the political incentive structure makes it attractive for politicians to spend on current programs rather than levy taxes.
What is the struggle among various producers for the consumer's buisness called?
a) socialism b) competition c) incentive d) self-regulation