In order to promote growth in living standards, policymakers must
a. protect property rights.
b. maintain political stability.
c. encourage the accumulation of factors of production.
d. All of the above
d
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The text asserts that the allocation of resources among firms is efficient. What assumptions must hold for this to be true?
What will be an ideal response?
In the United States between 1790 and the Civil War, who issued paper currency?
a. The Federal Reserve System b. The U.S. Treasury Department c. The U.S. Congress d. The British government e. Private banks.
Which of the following is not included in GDP but occurs hand-in-hand with improvements in GDP?
a. production b. services c. investment d. environmental protection
Which of the following would be most likely to shift the consumption function downward?
a. a stock market crash b. a price level decrease c. increased corporate profits d. a stock market boom