When represented graphically, the government's demand for funds curve is
a. downward sloping
b. upward sloping
c. vertical
d. initially downward sloping, then upward sloping
e. initially rightward sloping, then downward sloping
C
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Whether or not a reduction in the budget deficit is a pro-growth measure depends on how the budget deficit shrinks
a. True b. False
Increased opportunities for trade increase production by
A. Protecting countries from competition. B. Improving efficiency through specialization. C. Encouraging countries to be self-sufficient. D. Shifting the production possibilities curve outward.
Suppose that 2012 is the base year and the price deflater in 2016 is 104.5. Considering this, how are the prices in 2016 different from the price in 2012?
a. The 2016 prices are about 4.5 percent lower than the 2012 prices. b. The 2016 prices are about 104.5 percent lower than the 2012 prices. c. The 2016 prices are about 4.5 percent higher than the 2012 prices. d. The 2016 prices are about 104.5 percent higher than the 2012 prices.
Over the past year, output grew 5%, capital grew 5%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.3 and 0.7, respectively, how much did productivity grow?
A. 2.8% B. 1.0% C. 2.2% D. 0.5%