There are a number of benefits that usually accompany economic growth. The following are such benefits EXCEPT
A) increase in literacy.
B) increased expected life-spans.
C) political stability.
D) urban congestion.
D
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Suppose the market-clearing interest rate on loans is 12%, but law-makers impose an 8% interest rate ceiling. The new law will tend to
A) increase the supply of loans. B) decrease the supply of loans. C) increase the demand for loans. D) decrease the demand for loans. E) do none of the above.
According to classical macroeconomic theory, if real GDP is below the full-employment level, then an increase in aggregate demand will result in which of the following changes in equilibrium?
a. Real GDP will rise, but the price level will remain constant. b. Real GDP and the price level will both rise. c. Real GDP will remain unchanged but the price level will rise. d. None of the above.
A profit-maximizing monopolist sets
A. his or her price where MC = MR. B. his or her output where MC = MR. C. his or her price where MR > MC. D. his or her output where P = MC.
The provision of a public good generates a
a. positive externality, as does the use of a common resource. b. positive externality and the use of a common resource generates a negative externality. c. negative externality, as does the use of a common resource. d. negative externality and the use of a common resource generates a positive externality.