The more certain private property rights are
A) the less people need to invest in education or human capital development.
B) the more an economy must grow to maintain a certain living standard.
C) the less entrepreneurship there will be.
D) the more capital accumulation there will be.
D
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When there is an expansionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; expand B. increase; raise; decline C. decline; lower; decline D. decline; raise; decline
If both money demand and commodity demand are unstable, as many activists believe, which type of policy target(s) would most likely lead to a stable economy (assuming supply-side shocks are likely to occur)?
A) money supply target B) real GDP target C) interest rate target D) nominal GDP
Upon graduating from high school you have a job offer which would provide you with $20,000 in income for the coming year. You have also been accepted to Isaac and Avery college. Tuition for the coming year at I&A college is $15,000 . room and board is $10,000 and you expect that books will cost you $2,000 . What is the opportunity cost of attending I&A college?
a. $37,000 b. $27,000 c. $20,000 d. $32,000 e. $47,000
In the value-added approach, GDP is the sum of revenue received by all firms in the economy
a. True b. False