Economic growth is supported by
A) the rule of law.
B) competent and honest government officials.
C) an educated populace.
D) openness to international trade and investment.
E) all of the above.
E
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For the world, what period of time experienced the fastest growth rate of real GDP per person?
A) between 1000 A.D. and 1500 A.D. B) around 500 B.C. C) after about 1850 A.D. D) around 400 A.D. E) between 1500 A.D. and 1850 A.D.
The monetary policy strategy that relies on a stable money-income relationship is
A) exchange-rate targeting. B) monetary targeting. C) inflation targeting. D) the implicit nominal anchor.
Dividing fiscal policy into two instruments has the effect of introducing another policy target:
A) the interest rate. B) the national debt. C) the unemployment rate. D) the division of output between public and private spending.
Tony's Taco Truck has an average variable cost of $1.50 and a marginal cost of $2 when it produces 50 units of output (tacos). We can conclude that the average variable cost of producing 51 tacos is a. higher than $1.50
b. lower than $1.50. c. equal to $1.50 d. either higher or lower than $1.50 depending on the direction of the marginal cost curve.