Which of the following will increase the level of human capital in an economy?
A. An increase in land mass.
B. A decrease in the population.
C. An increase in literacy rates.
D. An increase in factory capacity.
Answer: C
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Inflation targets can increase the central bank's flexibility in responding to declines in aggregate spending
Declines in aggregate ________ that cause the inflation rate to fall below the floor of the target range will automatically stimulate the central bank to ________ monetary policy without fearing that this action will trigger a rise in inflation expectations. A) demand: tighten B) demand; loosen C) supply; tighten D) supply; loosen
Corporate income taxes account for about what percent of federal revenues?
A. 6 percent. B. 9 percent. C. 18 percent. D. 24 percent.
Why do many economists argue that modern macroeconomics began in the 1930s during the Great Depression?
a. The Great Depression disproved many of the concepts of traditional microeconomics, necessitating the growth of a new field of theory. b. The devastating effects of the Great Depression drove economists to discover ways to mitigate unemployment through economic policy. c. Macroeconomics developed as a way to capture growing interest in economics, previously an obscure field of study, following the Great Depression. d. Before the Great Depression, unemployment had little impact on national economies, and macroeconomic principles were largely inapplicable.
Over the last three decades, the Chinese government has adopted a series of market-oriented reforms that have shifted control of many parts of the Chinese economy from government officials to private individuals. These reforms have most likely stimulated China's growth for which of the following reasons?
A. They have decreased domestic competition. B. They have increased economies of scale. C. They have provided individuals with a greater incentive to be efficient. D. They have decreased entrepreneurship.