Suppose the growth rate of GDP in the United States is 4.2 percent. If 2.9 percent and 1.3 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0 percent.
B) 1.3 percent.
C) 2.9 percent.
D) 4.2 percent.
A
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Other things equal, expected income can be used as a direct measure of well-being
A) always. B) no matter what a person's preference to risk. C) if and only if individuals are not risk-loving. D) if and only if individuals are risk averse. E) if and only if individuals are risk neutral.
Can economic analysis precisely determine the proper levels of government spending and taxation? In your answer explain the problems in using cost-benefit analysis
Please provide the best answer for the statement.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point B to Point D, the opportunity cost of motorcycles, measured in terms of hybrid cars,
A. increases B. remains constant. C. initially increases, then decreases. D. decreases.
The nominal interest rate equals the real interest rate ________ the inflation rate
A) times B) divided by C) plus D) minus