Government spending influences spending indirectly
a. True
b. False
Indicate whether the statement is true or false
False
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If the equilibrium level of real GDP per year is greater than the full-employment level of GDP, then
A) the economy is at full employment with no price changes. B) the economy expands the level of real GDP. C) an inflationary gap occurs. D) a recessionary gap occurs.
Which of the following is true of the Industrial Revolution? a. It led to a widening of income inequality between nations
b. It led to an increase in the foreign reserves of all nations. c. It led to a twofold increase in the per-capita GDP of all nations. d. It helped artisans produce the highest-quality products.
Which of the following would you expect to lead to worsening environmental quality?
A. Freer trade in capital equipment that incorporates environmentally friendly technologies B. An export or production subsidy from the Chinese government to Chinese steel manufacturers C. An export subsidy for producers of clean technology for producing paper D. Freer trade that promotes production of manufactured goods in developing countries where environmental laws are strict
Refer to Figure 34.3. If a welfare recipient did not work, he or she would receive welfare benefits of
A. $0. B. $5,000. C. $1,000. D. $10,000.