Economic growth occurs when
A. a large part of a country's population is poor.
B. a society sacrifices an amount of one good for more of another along its production possibility frontier.
C. a society acquires additional resources or when its technology advances.
D. there is unemployment of labor but other resources are used efficiently.
C. a society acquires additional resources or when its technology advances.
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If the expenditures multiplier in an economy is 3 and the government wants to increase aggregate demand by $12 billion at all price levels, it should cut taxes by
A. $9 billion. B. $12 billion. C. $6 billion. D. $3 billion.
Over a period of years, many European countries replaced their transaction taxes with a value added tax. Give two reasons why this was done
What will be an ideal response?
US Exports After staying around 1.35 US dollars per Euro for years, the exchange rate fell below 1.25 US dollars to a euro during the summer of 2014 . What affect does this have US exports to Europe?
Because the benefits derived from an activity decline as it is expanded, it is generally wise to
a. undertake all actions that generate benefits. b. expend the smallest possible amount of resources on this type of activity. c. avoid any activity with this characteristic. d. stop the activity before perfection is reached..