The contribution to output growth of technological progress is estimated by how much of the output growth can be explained by the growth in inputs
Indicate whether the statement is true or false
FALSE
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If the expenditures multiplier in an economy is 3 and the government wants to increase aggregate demand by $12 billion at all price levels, it should cut taxes by
A. $9 billion. B. $12 billion. C. $6 billion. D. $3 billion.
In a bilateral monopoly, equilibrium price will
A) favor the seller. B) favor the buyer. C) approximate the competitive equilibrium price. D) not be determined by a simple rule.
A major advantage of the corporation is
a. limited taxes. b. preferential treatment by state governments. c. limited liability of individual owners. d. limited numbers of owners and ease of decision making.
If all persons had identical preferences and productivity factors (ability, skill level, education, experience, etc.), the highest paying jobs would be the most
a. prestigious. b. convenient. c. undesirable. d. easily learned.