Sharing the results of applied research conducted under government sponsorship with the private sector, such as the development of the Global Positioning System (GPS), is an example of a government policy to promote economic growth by:
A. increasing physical capital.
B. increasing human capital.
C. increasing the availability of natural resources.
D. improving technology.
Answer: D
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General equilibrium analysis is different from partial equilibrium analysis in that general equilibrium analysis
A) explicitly takes feedback effects into account and partial equilibrium analysis does not. B) does not take into consideration specific problems, but partial equilibrium analysis does. C) takes into consideration specific problems, but partial equilibrium analysis does not. D) allows one to arrive at a specific conclusion, but partial equilibrium analysis does not.
A surplus budget can be used to combat an inflationary gap
Indicate whether the statement is true or false
When the money supply and the price level in countries that experienced hyperinflation are plotted on a graph against time, we see that
a. the price level grew at about the same rate as the money supply. b. the price level grew at a much faster rate than the money supply. c. the price level grew at a much slower rate than the money supply. d. the inflation rate and the money supply growth rate do not appear to be related.
Suppose the government auctions off permits to car and truck owners, with each permit allowing the user to emit five tons of carbon dioxide each year from her or his vehicle. The total amount of carbon dioxide permitted is less than the amount currently emitted by vehicles. These permits could then be bought and sold on a market. Which of the following would occur?
A. People would pay less attention to their vehicle emissions than they do now because they could simply buy a permit and emit more. B. People would tend to purchase cars that emitted less carbon dioxide. C. The total amount of fossil fuels burned in vehicles would actually increase. D. Wealthy people would bear a larger burden under this system, relative to their incomes.