By looking at the graph showing growth of government expenditures as a percentage of GDP in the United States from 1929 to 2017, we can see that expenditures were lowest in ______.
a. 1929
b. 1945
c. 1959
d. 2005
a. 1929
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Even a monetary policy based on a rigid high-powered money growth rate rule can lack policy credibility, due in part to ________, while a policy that targets the inflation rate itself ________
A) lags, must have policy credibility by definition B) lags, can lack credibility due to both lags and multiplier certainty C) multiplier uncertainty, must have policy credibility by definition D) multiplier uncertainty, can lack credibility due to both lags and multiplier uncertainty
Shirking is most likely to occur when
A) the principal monitors the agents extensively. B) employees are paid an hourly wage. C) a piece rate contract is used. D) an assembly line is used for production.
A contour map illustrates a cause and effect relationship among three variables
a. True b. False Indicate whether the statement is true or false
Economic growth rates in follower countries:
A. tend to be lower than in leader countries because labor forces in follower countries are too small. B. tend to exceed those in leader countries because followers can cheaply adopt the new technologies that leaders developed at relatively high costs. C. will never bring real GDP per capita up to the same levels as in leader countries, even if follower growth rates are greater than those in leader countries. D. typically average about 2 percent per year.