Which one of the following does NOT appear to contribute to economic growth?
A) knowledge B) a system of well-defined property rights
C) protectionism D) innovation
C
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Any combination of two goods that lies beyond the production possibilities frontier
A) is currently impossible to produce. B) is currently possible to produce, but not worth trying. C) represents economic waste. D) represents a more efficient combination of output than anything lying on the frontier.
A bank creates money when it:
a. gets new checkable deposits which the depositor formerly held as cash. b. has a loan paid off, which creates excess reserves for the bank. c. makes a loan from its excess reserves. d. holds back excess reserves because of an increase in the required reserve ratio. e. gets more excess reserves because of a decrease in the required reserve ratio.
Which of the following is not among the factors that lead to economic growth?
a. Increases in employment b. Increases in the capital stock c. Improvements in technology d. Government transfer programs e. Political stability and an efficient legal system
The primary reason conglomerate mergers are the most difficult to attack under the antitrust laws is that
a. these mergers always involve a domestic firm and a foreign firm b. these mergers always involve the largest corporations in the United States c. there is no statute the government can use to attack them in court d. these mergers do not increase concentration in any market e. these mergers are always beneficial