Human capital contributes to growth because it helps workers in the economy:
A. be more productive with their time.
B. work smarter.
C. produce more with the same amount of physical capital.
D. All of these are true.
Answer: D
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The United States imposes a quota on sugar imports
a. because sugar is considered unhealthy b. because sugar cannot be produced in the U.S. c. to avoid having to pay billions of dollars annually to support domestic sugar prices d. to avoid having to pay billions of dollars annually to support foreign sugar prices e. because a tariff would not be efficient
Which of the following is not correct?
a. Frictional unemployment is inevitable in a dynamic economy. b. Although the unemployment created by sectoral shifts is unfortunate, in the long run such changes lead to higher productivity and higher living standards. c. The internet can help facilitate the job search and reduce frictional unemployment. d. Unemployment insurance decreases frictional unemployment.
A country has national saving of $100 billion, government expenditures of $30 billion, domestic investment of $80 billion, and net capital outflow of $20 billion. What is its demand for loanable funds?
a. $60 billion b. $70 billion c. $100 billion d. $120 billion
The impact lag is the time between putting a policy in place and when its effects are felt in the economy.
a. true b. false