Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is
A) 0.3 percent.
B) 1.1 percent.
C) 1.4 percent.
D) 1.7 percent.
D
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George makes $250 a week working as a student aid. When he cashes his check he takes $100 to the cashiers office to pay part of his tuition. $25 goes to paying off his books, $75 goes for entertainment and $50 he keeps for unexpected expenditures
Which of the following statements is TRUE? A) The transactions demand for money is $125, the precautionary demand is $75 and the asset demand is $50. B) The transactions demand for money is $0, the precautionary demand is $250 and the asset demand is $0. C) The transactions demand for money is $200, the precautionary demand is $50 and the asset demand is $0. D) The transactions demand for money is $250, the precautionary demand is $0 and the asset demand is $0.
A legal restriction on the amount of a good that can be imported into a country is known as a
A) voluntary restraint agreement. B) tariff. C) quota. D) Domestic Protection Restraint (DPR).
In what way do policymakers have to face a trade-off between inflation and unemployment?
A. The cost of reducing inflation by restrictive fiscal and monetary policies is a temporary increase in unemployment. B. The cost of reducing inflation by restrictive fiscal and monetary policies is a permanent increase in unemployment. C. The cost of reducing unemployment by expansionary fiscal and monetary policies is virtually nonexistent. D. The cost of reducing unemployment by expansionary fiscal and monetary policies involves higher inflation during recessions.
Describe the technology transfer benefit of capital flows into low-income countries
What will be an ideal response?