Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that growth rate of K/NA is
A) gA gN.
B) gA + gN.
C) 0.
D) gA.
E) none of the above
C
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At macroeconomic equilibrium,
a. total investment equals total inventories. b. total spending equals total production. c. total consumption equals total production. d. total taxes equal total transfers.
If potential output exceeds actual output, the aggregate demand curve shifts downward over time
Indicate whether the statement is true or false
Markets work well for allocating ____________ efficiently, but not always so well for allocating ______________________.
A. private goods; public goods B. public goods; private goods C. common resources; public goods D. public goods; common resources
Nearly 80 percent of the federal government receipts come from
a. individual and corporate income taxes. b. individual income taxes and social insurance revenues. c. corporate income taxes and excise taxes. d. individual income taxes and excise taxes.