Which of the following groups would be most optimistic about the effects of economic growth?
A. Environmentalists
B. Psychologists
C. Economists
D. Political Scientists
Answer: C
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Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
The above table shows some (but not all) national income accounting data for a hypothetical country. According to these data, the value of GDP is ________ billion
A) $2100 B) $1850 C) $2000 D) $2050
In the context of sales taxation, SSTP stands for Simplified Sales Tax Project
a. True b. False
The federal government’s research and experimentation plan is a(n) _____________ to stimulate private sector investment in research.
a. economic prize b. subsidy c. collaboration d. tax credit