Most economists agree that while there are a seemingly endless number of ways to promote economic development:
A. there are just as many ways to measure effectiveness.
B. there are few ways to measure their effectiveness.
C. there is no way to determine which ways are the best.
D. there is no need to measure effectiveness.
B. there are few ways to measure their effectiveness.
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Which of the following is the largest source of revenue for the U.S. federal government?
A) sales taxes B) the individual income tax C) social insurance taxes D) property taxes
Which of the following correctly describes a way in which deficit spending can impose a burden on future generations? I
Failure to allocate deficit spending to uses that boost future real Gross Domestic Product (GDP) will require taxing future generations at a higher rate to repay the resulting higher public debt. II. Government deficits that lead to higher employment and real Gross Domestic Product (GDP) in the future will generate increased income taxes for future governments, which will respond by spending the higher tax revenues, creating higher future government budget deficits. III. Other things being equal, deficit spending fuels increased consumption of goods and services by the current generation that crowds out capital investment, thereby leaving future generations with a smaller stock of capital than otherwise would have existed. A) I only B) II only C) I and III only D) II and III only
Which of the following statements is false?
a. Round stones with holes in the center can serve as money. b. Money eases the process of exchanging goods and services in a modern economy. c. Money serves as a measure of value only when it is backed by gold or silver. d. Money is used as a measure of the relative value of goods and services in an economy.
The number of sellers in a market is considered to be large when
a. the total exceeds 100 b. no single buyer can affect the price through his or her demand for the product c. they cannot be easily counted d. no single seller can affect the price by changing its level of output e. no seller controls more than 20 percent of the total market supply