Which of the following statements best describes structural economic change?
a. Fiscal policy can increase overall demand, but the process of structural economic change happens more rapidly.
b. Fiscal policy can increase overall demand, but the process of structural economic change inevitably takes time.
c. Fiscal policy can determine the rate at which structural economic change occurs.
d. Fiscal policy can increase both overall demand and create structural economic change simultaneously.
b. Fiscal policy can increase overall demand, but the process of structural economic change inevitably takes time.
You might also like to view...
The perfectly competitive firm's short-run supply curve is the same as the
a. supply curve of all other firms in the industry b. upward-sloping portion of its marginal cost curve c. upward-sloping portion of its marginal cost curve at or above minimum average variable cost d. upward-sloping portion of its average variable cost curve e. market demand curve
For which of the following questions would consumer sovereignty provide an answer?
a. Will a shovel or bulldozer be used to excavate the ground? b. Should the government provide trash collection services in the community? c. Should we have universal health coverage provided by the government? d. Will large or small cars sell the most this year? e. Should there be numerous competitors offering long-distance phone service to the consumer?
Only the federal government can create money.
Answer the following statement true (T) or false (F)
When M1 is expanded to M2, the money supply:
A. almost doubles. B. more than triples. C. goes up tenfold in size. D. changes very little.