Evidence from the United States and Japan on "multifactor productivity" shows it to be highly ________, which is ________ with the RBC theory of technological shocks and their consequences for the business cycle
A) procyclical, consistent
B) procyclical, inconsistent
C) countercyclical, consistent
D) countercyclical, inconsistent
A
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Describe ways that governments can promote faster economic growth
What will be an ideal response?
Asymmetric information is a situation in which
A. information possessed by one party in a transaction is not known by another party. B. private firms have information that they choose to pass along to the government. C. the government has information that it chooses to pass along to private firms. D. information possessed by one party in a transaction is also known by another party.
One essential factor for economic growth is:
A. Increasing population growth B. Expanding the role of government C. Using existing resources more efficiently D. Expanding tax-credits for business investment
In economics, the term "land" means
A) only land that is used in agricultural production. B) land, mineral resources, and nature's other bounties. C) land that is devoted to economic pursuits. D) land used for agricultural and urban purposes.