Classical growth theory asserts that
A) growth in real GDP per person is temporary.
B) only some countries can have economic growth.
C) real GDP growth will eventually be a constant 3 percent per year.
D) nominal GDP growth is most important.
A
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Which of the following generates productive efficiency?
A) government inspectors B) government production rules and regulations C) competition among sellers D) competition among buyers
The yield to maturity for a one-year discount bond equals the increase in price over the year, divided by the
A) initial price. B) face value. C) interest rate. D) coupon rate.
If a Central Bank wished to increase the supply of money it should
(a) Raise the reserve requirement. (b) Raise the rate of discount. (c) Buy government bonds in the money market. (d) Do any or all of the above.
Another description for capitalism is:
a. The socialist economy b. The market system c. The system of inputs and outputs d. The command system