Enforcement of property rights is likely to result in:
a. more incentives to invest
b. lower rates of economic growth.
c. political instability.
d. corruption.
a
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In the long-run, money market equilibrium determines
A) the real interest rate. B) the value of money. C) real GDP. D) the nominal interest rate E) velocity.
Give an example of an automatic stabilizer. Explain how automatic stabilizers work in the case of recession
What will be an ideal response?
To test whether or not the population regression function is linear rather than a polynomial of order r,
A) check whether the regression R2 for the polynomial regression is higher than that of the linear regression. B) compare the TSS from both regressions. C) look at the pattern of the coefficients: if they change from positive to negative to positive, etc., then the polynomial regression should be used. D) use the test of (r-1) restrictions using the F-statistic.
According to Nobel Laureate Simon Kuznets, the greatest increase in output and economic growth comes from changes in the _____
a. quantity of resources b. quantity of natural resources (land) c. quantity of labor d. quality of resources e. quantity of capital