Which of the following is not considered a factor contributing to economic growth?
a. Growth in the quantity and quality of labor resources used
b. Growth in physical capital inputs (machines, tools, buildings, and inventories)
c. Growth in the money supply relative to the growth of final goods and services
d. Government protection of property rights
Answer: c. Growth in the money supply relative to the growth of final goods and services
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Use the following graph to answer the next question. The economy is at equilibrium at point B. What would expansionary fiscal policy do?
A. Move the economy from point B towards point C. B. Move the economy from point B towards point A. C. Move the economy from point B downward along AD2. D. Move the economy from point B upward along AD2.
A ________ demand curve for shampoo would be caused by a change in the price of shampoo
A) positively sloped B) leftward shift of the C) rightward shift of the D) movement along the
A positive statement:
A. can actually be false. B. must always be true. C. provides an opinion with a positive outlook. D. is the same as a normative statement.
Refer to the data. The nominal GDP for year 3 is:
Assume an economy that is producing only one product. Output and price data for a three- year period are as follows. Answer the question on the basis of these data.
A. 125 percent higher than the nominal GDP for year 1.
B. 50 percent higher than the nominal GDP for year 1.
C. $120.
D. $30.