During the 800 years between 1000 and 1800, the increases in both world income per person and life expectancy at birth were small, but both of these indicators have increased sharply during the past 200 years
a. true
b. false
a. true
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One way investment banks differ from commercial banks is that investment banks
A) do not take in deposits. B) lend exclusively to households. C) only buy and sell mortgages. D) trade only in foreign exchange markets.
The idea that additional spending on research and development will produce additional knowledge that may further increase the productivity of capital is an argument used by some economists to claim that knowledge is subject to ________ returns
A) decreasing B) increasing C) constant D) negative
Which of the following is an example of a situation where a third party benefits from a market transaction by others?
a. Inoculation against communicable diseases b. An increase in the level of air pollution in neighborhoods near a power plant c. Allowing a chemical company to use a natural lake to discharge waste d. Two firms trading pollution credits to avoid reducing their toxic emissions
If the economy is experiencing inflation, then the most appropriate government policy would be to:
A. shift the aggregate demand curve by using a tax increase coupled with spending cuts. B. shift the aggregate demand curve by using a tax increase coupled with more spending. C. shift the aggregate demand curve by using a tax cut coupled with spending cuts. D. shift the aggregate supply curve by using a tax cut coupled with more spending.