Which of the following is most likely to result in a decline in the economic growth of a nation?
a. The installation of a network of irrigation ditches and pumping stations to grow fruits and vegetables in parts of southern California
b. The invention of a threshing machine for harvesting grains
c. Increased government funding for higher-secondary education
d. Emigration by the citizens of Nomanzia, an island country, when a politically repressive regime took office
d
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Which of the following is likely to have the most price elastic demand?
a. fountain ink pens b. milk c. disposable diapers d. shampoo
Between 1993 and 2001 the U.S. economy experienced
a. relatively low inflation and unemployment rates. b. relatively high inflation and unemployment rates. c. relatively low inflation rates and relatively high unemployment rates. d. relatively high inflation rates and relatively low unemployment rates.
Two key assumptions of new Keynesian theory include:
A) (1 ) people hold rational expectations, and (2 ) wages and prices are not completely flexible in the short run. B) (1 ) people hold adaptive expectations, and (2 ) wages and prices are inflexible. C) (1 ) people hold rational expectations, and (2 ) wages and prices are flexible. D) (1 ) people hold neither adaptive nor rational expectations and (2 ) prices are inflexible. E) none of the above
Recall the Application about property rights, urban slums, and the role of government in a market economy to answer the following question(s).According to the Application, why would granting property rights improve property values in urban slums around the world?
A. granting ownership increases investment in non-movable structures B. granting property rights encourage housing repairs C. granting property rights encourage regular maintenance D. All of these are correct.