If we are interested in knowing whether a poor country is improving economically, we want to know not only what the economic growth rate is, but also
A) whether the economic growth rate is faster than other nations' growth rates.
B) whether government spending is growing at the same rate.
C) whether the economic growth rate is greater than last year's rate.
D) whether the lowest income groups are benefiting from the growth.
D
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Which of the following shifts the aggregate demand curve leftward?
A) a decrease in government expenditure on goods and services B) an increase in the price level C) a tax cut D) an increase in foreign income E) a decrease in the price level
The price of pie increases. Some people who purchased pie before the price increase no longer purchase pie. This is
A) a positive externality. B) a negative externality. C) a positive externality for some consumers and a negative externality for others. D) not an externality.
If demand and supply both increase
A) the equilibrium quantity definitely will increase and market clearing price definitely will decrease. B) the equilibrium quantity definitely will increase and market clearing price definitely will increase. C) the equilibrium quantity definitely will increase but the change in market clearing price cannot be determined without more information. D) market clearing price definitely will increase but the change in the equilibrium quantity cannot be determined without further information.
The short run:
A. is typically defined by the process cycle of the particular firm. B. is defined by the presence of a fixed cost for a firm. C. is generally less than a year. D. All of these are true.