Refer to the information provided in Figure 29.1 below to answer the question(s) that follow.
Figure 29.1Refer to Figure 29.1. Suppose it takes policy makers from time t5 to time t7 to see that the economy has started expanding. This is an example of
A. an implementation lag.
B. a response lag.
C. a policy lag.
D. a recognition lag.
Answer: D
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It is useful to study the Solow growth model because
A) it provides a useful account of the reasons for population growth. B) it is useful in understanding the sources of economic growth after 1800. C) it has a steady state. D) it can help us understand the reasons for population control.
Whom does the Bureau of Labor Statistics include in the "discouraged workers" group?
a. All those between 16 and 65 who are neither disabled nor in an institution and are also neither employed nor seeking employment. b. Civilian labor force members who have chosen early retirement because they dislike their work or think the pay is too low. c. Members of the noninstitutional population who say they want to be employed but aren't searching for a job. d. Members of the civilian labor force who are looking for a job but cannot find one. e. Anyone in the population who is not working.
If U.S. prices increase relative to the rest of the world, we would expect:
A. imports to increase and net exports to increase. B. exports to decrease and net exports to decrease. C. imports to increase and net exports to increase. D. exports to decrease and net exports to increase.
Nearly half of federal government research and development spending takes place in the
a. National Science Foundation. b. National Aeronautics and Space Administration (NASA). c. Department of Defense. d. Federal Office of Technology Policy.