_____, the lesser will be the effect of an increase in government spending on real GDP
a. The smaller the crowding-out effect
b. The smaller the percentage of government spending financed by tax increases
c. The larger the government budget surplus
d. The more rapidly money is converted into goods
e. The steeper the aggregate supply curve
e
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If the long-run industry supply curve in a perfectly competitive market is horizontal, then very likely input prices will ____ as industry output expands
a. increase b. decrease c. remain constant d. first increase and then decrease
A monopolist is willing to lose some customers by charging higher prices, since this results in higher profits.
Answer the following statement true (T) or false (F)
National League pitchers partake in some batting practice (typically, bunting). Why don't American League pitchers practice batting?
A) Practice can't be expected to improve their terribly poor batting skills. B) They have little incentive, given the designated hitter rule. C) They don't believe the slogan "There is no 'I' in 'Team'." D) They ignore the rules of the game.
Which the following is NOT an exogenous factor affecting economic growth that countries caught in a "poverty trap" might utilize to encourage economic growth?
A) human capital B) political capital C) infrastructure D) geographical location