A government policy to build bridges and dams is an example of a policy to promote economic growth by:
A. increasing human capital.
B. improving technology.
C. improving the social and legal environment
D. increasing physical capital.
Answer: D
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If a 10 percent increase in income leads to a 5 percent decrease in the demand for a good, the income elasticity of demand equals ________ and the good is ________ good
A) 1/2; a normal B) -1/2; an inferior C) 2; a normal D) -2; a normal E) -5; an inferior
In the run up to the war in Iraq that began in 2003, one of the many concerns raised was that a war could result in a decrease in the supply of oil. At the same time, the U.S
economy was having a hard time recovering from the recession of 2001 and, as a result, incomes of many consumers had decreased (due to layoffs, wage cuts, and so forth). All else constant, it was reasonable to predict, with certainty, that the combination of these two factors would cause the equilibrium: A) quantity of oil to decrease. B) quantity of oil to increase. C) price of oil to increase. D) price of oil to decrease.
The U.S. International Trade Commission rejects many antidumping and countervailing duty allegations because there is:
a. insufficient evidence that a U.S. industry is materially injured as a result of dumping or export subsidization. b. insufficient evidence of dumping or export subsidization. c. insufficient evidence of dumping or export subsidization and insufficient evidence that a U.S. industry is materially injured as a result of dumping or export subsidization. d. no evidence of dumping or export subsidization, but there is evidence that a U.S. industry is materially injured.
When investors use borrowed funds to pay for investments, it's called:
A. herding. B. hedging. C. leveraging. D. tulip mania.