The growth rate in the autonomous factor (a) in the production function can be directly influenced by all of the following EXCEPT
A) environmental legislation.
B) support for research and development.
C) subsidies for education.
D) initiation of tax indexation.
D
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One important role for government as referee is in defining and enforcing property rights.
Answer the following statement true (T) or false (F)
Suppose the economy is suffering in a recessionary period. Firms are facing increasing inventories and individual consumers are increasing their saving to prepare for hard times ahead. What is likely to happen to the economy and can it correct itself and grow toward full employment in the short run?
What will be an ideal response?
The Lorenz curve would be a diagonal line if income were distributed equally.
Answer the following statement true (T) or false (F)
Import bans, import quotas, voluntary export restraints (VERs), and tariffs on goods all:
A. increase imports and raise prices for consumers. B. reduce imports and prices for consumers. C. reduce imports and raise prices for consumers. D. increase imports and reduce prices for consumers.