What are some of the sources of long-run economic growth, and which is the greatest contributor to growth?
What will be an ideal response?
Research and development account for the largest share of economic growth. Other sources of growth include human capital investment, physical capital investment, and management training.
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When Americans or foreigners expect the return on ________ assets to be high relative to the return on ________ assets, there is a higher demand for dollar assets and a correspondingly lower demand for foreign assets
A) dollar; dollar B) dollar; foreign C) foreign; dollar D) foreign; foreign
Buyers and sellers in the foreign exchange market negotiate an exchange of
A. foreign banks. B. foreign stocks. C. foreign government bonds. D. currencies of various countries.
The largest source of tax revenue for the U.S. federal government is:
A. personal income taxes. B. property taxes. C. corporate income taxes. D. sales and excise taxes.
A constant rate of U.S. economic growth over a given period of years would involve
A. adding the same amount of real dollars to real GDP per capita each year. B. compounding the percentage increase in real GDP per capita over the years. C. adding the same amount of nominal dollars to real GDP per capita each year. D. None of these are correct.