All increases in the level of human capital take place in schools
a. True
b. False
Indicate whether the statement is true or false
False
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An example of fixed investment spending is
A) the purchase of a new apartment building by a property management company. B) the purchase of corporate bonds by Microsoft Corporation. C) the purchase of a new wood chipper by a landscape maintenance company. D) $4 million in unsold furniture at a home furnishings manufacturer.
If the surplus in the capital account are greater than the deficit in the current account, then
a. the current account must be positive in the long-run. b. the current account must be negative in the long-run. c. exports must be less than imports. d. official reserve transactions must be negative.
If real GDP exceeded potential real GDP and inflation was increasing, which of the following would be an appropriate fiscal policy?
A) a decrease in the money supply and an increase in the interest rate B) an increase in government spending C) an increase in taxes D) an increase in oil prices
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower