If real GDP is higher in one country than in another, then we can be sure that the standard of living is higher in the country with the higher real GDP
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
In an economy open to international trade ________
A) saving equals investment in equilibrium B) saving is the difference between net exports and investment C) saving equals investment as long as the economy has no exports D) saving equals investment as long as NX=0 E) none of the above
General equilibrium analysis is different from partial equilibrium analysis in that general equilibrium analysis
A) explicitly takes feedback effects into account and partial equilibrium analysis does not. B) does not take into consideration specific problems, but partial equilibrium analysis does. C) takes into consideration specific problems, but partial equilibrium analysis does not. D) allows one to arrive at a specific conclusion, but partial equilibrium analysis does not.
Economists generally agree that in reducing poverty, policies should be sought that do the
a. greatest good for total production. b. least harm to work incentives. c. most good for the poor. d. least harm to equality of income.
There is some agreement between the beliefs of President George W. Bush in 2001 on the effectiveness of tax cuts with the beliefs of former President
A. Keynes. B. Clinton. C. Reagan. D. Carter.