The growing federal budget deficit in the 1980s was accompanied by a
a. growing trade surplus.
b. growing trade deficit.
c. shrinking trade deficit.
d. shrinking capital account surplus.
b
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The development of human capital
A) is a form of investment. B) enhances economic growth, but the individuals acquiring the capital are not made better off themselves. C) does not appear to enhance economic growth. D) enhances economic growth, but it does not improve the productivity of the labor force.
Labor unions ________ increases in the minimum wage because an increase in the minimum wage ________ the demand for union labor
A) support; increases B) support; decreases C) oppose; increases D) oppose; decreases E) support; has no effect on
When the economy suffers a permanent negative supply shock and the central bank does not respond by changing the autonomous component of monetary policy, then
A) inflation will be lower. B) output will be at its potential. C) output will be lower. D) inflation will not change. E) both A and B.
Electricity and internal combustion engines are general-purpose technologies. They permit the functioning of a wide range of goods, service and production systems
Indicate whether the statement is true or false