Which of these is among the principal determinants of economic growth?
A) inflation
B) the financial system
C) the central bank
D) the government budget deficit
E) stabilization policy
B
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A "capitalist" is someone who:
A. owns stock. B. holds a treasury bond. C. opens a retirement account. D. All of these statements are true.
If you were a Keynesian, you would
a. accept the countercyclical policy of doing nothing, that is, allow market forces to work b. believe that the level of aggregate demand in the 1930s was sufficient to generate full employment c. accept the fact that policymakers should eliminate inflation first before focusing on unemployment d. focus on increasing aggregate demand in order to stimulate the economy e. argue in favor of supply side economics
The tax on cigarettes is an example of
a. a consumption tax. b. a corrective tax. c. an income tax. d. a command-and-control policy.
Lilly is the price-taking owner of an apple orchard. The price of apples is high enough that Lilly is earning positive economic profits. In the long run, Lilly should expect:
Select one: a. higher apple prices due to the exit of existing firms. b. lower apple prices due to the exit of existing firms. c. higher apple prices due to the entry of new firms. d. lower apple prices due to the entry of new firms.