Most economists agree that the self-correcting mechanism works
A. very slowly.
B. very rapidly.
C. rapidly in the short run and slowly in the long run.
D. slowly in the short run and rapidly in the long run.
Answer: A
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According to the Solow model, given the levels of total efficiency units of labor and technology:
A) efficiency units of labor do not play any role in the determination of steady-state equilibrium level of GDP. B) there is a maximum fixed level of GDP that an economy can achieve by increasing savings. C) increases in the savings rate is the sole reason for sustained economic growth. D) increases in the rate of physical capital accumulation can be the sole reason for sustained economic growth.
Refer to Figure 4.7. You will receive a payoff of 0 points if you ask for points and so do ________ of your classmates
A) 0 B) 6 C) 12 D) none of the above
In the United States in 2014, the percentage of firms that employed between 3 and 199 workers and did not offer health insurance as a fringe benefit to the workers was about
A) 2%. B) 46%. C) 61%. D) 98%.
Recently, consumption has comprised approximately
A) one-half of GDP. B) two-thirds of GDP. C) three-fourths of GDP. D) four-fifths of GDP.