Refer to the information provided in Figure 31.2 below to answer the question(s) that follow.
Figure 31.2Refer to Figure 31.2. An economy that chooses to be at Point ________ can achieve higher economic growth rate in the future.
A. A
B. B
C. C
D. D
Answer: B
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A change in which of the following alters buying plans for cars but does NOT shift the demand curve for cars?
A) a 5 percent increase in people's income B) a 10 percent decrease in the price of car insurance C) a 20 percent increase in the price of a car D) an increased preference for walking rather than driving
Today, U.S. government spending on entitlements represents ________ of the total federal budget
A) about 10 percent B) less than 25 percent C) nearly 60 percent D) nearly 90 percent
Which of the following best describes the notion of full employment?
(a) Less than 5% of the labour force is unemployed; (b) The current level of employment that is sustainable; (c) Employment and unemployment are at their "natural" rates; (d) All of the above could describe it.
A decrease in the marginal tax rate on asset income in the short run in the market clearing model:
a. raises change the stock of capital b. increases gross investment. c. increases real GDP. d. all of the above.