Most nations do not push the rate of economic growth to the maximum because
a. it would be impossible to do so
b. they do not know how to do so
c. there is an opportunity cost associated with economic growth
d. maximum growth would create an inefficient economy
e. government budget deficits prevent them from doing so
C
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The average cost curve
A. is the vertical summation of the AFC and the AVC curves. B. lies below the AVC curve. C. lies below the AFC curve. D. is the vertical summation of the MC and AVC curves.
Which of the following statements is correct?
a. Interest would not exist in a nonmonetary economy. b. The present value of a future dollar payment is inversely related to both the interest rate and to how far in the future the payment will be received. c. A "positive rate of time preference" means that an individual would rather save than consume. d. During an extended inflationary period, the money (or nominal) interest rate will usually be lower than the real rate of interest.
An extremely poor growing season in Idaho (a major potato-producing state) will be expected to cause
A. a decrease in the demand for potatoes. B. a decrease in the price of potatoes. C. an increase in the supply of potatoes. D. an increase in the price of potatoes.
Which of the following integration types aims at reducing transaction costs?
A. Cointegration B. Vertical integration C. Conglomerate integration D. Horizontal integration