Edward Denison's analysis of the American economy found that
A) total factor productivity was the largest source of economic growth since 1948.
B) the contribution of labor growth has been more variable than the contribution of capital growth.
C) productivity growth has been positive over every period of more than five years since WorldWar II.
D) the contribution of labor growth has been greater than the contribution of capital growth.
D
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A credible promise is:
A. possible to keep. B. made by a honest person. C. in the promiser's interest to keep. D. legally enforceable.
Import restriction in advanced economies deny developing economies access to the food market of the advanced economies. The result is ________ price and ________ farm production in the developing economies
A) lower; larger B) lower; smaller C) higher; smaller D) higher; larger E) stable; smaller
The expenditure approach to measuring 2000 GDP adds up all the incomes earned in the production of final goods and services in 2000
Indicate whether the statement is true or false
If congress and the federal reserve bank both wished to encourage growth of productive capacity in an economy already close to full employment, it would be most appropriate to
a) increase interest rates by buying bonds on the open market b) use a tight money policy to decrease government spending c) reduce taxes on consumption, increase income taxes, and increase government transfer payments d) reduce interest rates by engaging in open market operations and raise taxes on personal income e) increases capital gains taxes and decrease the money supply