Economic growth in China has lead to extensive air and water pollution because of what?
Answer: Inadequate enforced environmental policy. Economic laws and policies were ignored.
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Which of the following policies would increase the demand for loanable funds and thus investment spending?
a. A reduction in the investment tax credit. b. An increase in the corporate profits tax. c. A reduction in the capital gains tax. d. An increase in the investment tax credit. e. An increase in transfer payments.
Gross domestic product (GDP) can be calculated using either the expenditure method or the income method.
Answer the following statement true (T) or false (F)
The classical economists believed in all of the following EXCEPT
A. wages and prices are flexible downward. B. insufficient aggregate demand could keep an economy in a depression for an extended period of time. C. recessions were temporary because the economy is self-correcting. D. laissez faire was the best policy a government could pursue.
What two factors are the keys to determining labor productivity?
A) the business cycle and the growth rate of real GDP B) the growth rate of real GDP and the interest rate C) the level of technology and the quantity of capital per hour worked D) the average level of education of the workforce and the price level