The factors that contribute to the growth of per capita GDP in an economy include human capital deepening, physical capital deepening, and technological gains
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the figure below. Assume demand remains unchanged at D1. If supply shifts from S1 to S2, then the equilibrium price will ________ and the equilibrium quantity will ________. 
A. fall; fall B. fall; rise C. rise; fall D. rise; rise
Suppose Congress increased spending by $100 billion and raised taxes by $100 billion to keep the budget balanced. What will happen to real equilibrium GDP?
A) Real equilibrium GDP will fall. B) Real equilibrium GDP will rise. C) Real equilibrium GDP will initially rise, but then fall below its previous equilibrium value. D) There will be no change in real equilibrium GDP.
If Social Security is over-indexed, real payments
a. are lower than they would be if they were correctly indexed. b. are higher than they would be if they were correctly indexed. c. are constant. d. are decreasing. e. are under-indexed.
Which of the following is NOT one of the main goals of monetary policy?
A. Controlling inflation B. Ensuring financial stability C. Smoothing out the business cycle D. Balancing the federal budget