The majority of economists believe that future innovations will not be transformational enough to sustain high economic growth rates in the U.S. and western Europe
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following will cause the largest reduction in the birthrate?
(a) the population becomes less religious (b) public healthcare improves (c) education becomes more available (d) an increase in the opportunity cost of a woman's time
A change in technology or the relative prices of the inputs used in a production process would cause a manager's choice of inputs to use in the production process to change as well
Indicate whether the statement is true or false
In the classical model, fiscal policy has no demand-side effects on output or employment
a. True b. False
The 1910–1914 period was chosen as a benchmark period for determining parity prices because that was when
a. there was the greatest number of farms b. corn prices were the highest c. farmers believed that farm and nonfarm prices were such that farms goods tradedequal value for equal value with nonfarm goods d. the exchange standard was most biased in favor of farmers e. farm productivity was the lowest