Growth accounting refers to the method used to:
A. identify the contribution of economic growth from increased capital, labor, and technological progress.
B. identify the costs of promises made by the government today but paid for by future generations.
C. measure the growth in the labor force.
D. measure growth in the capital stock.
Answer: A
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Refer to the graph below for a monopoly. Assuming this were a perfectly competitive market, then the price and quality would be shown at the point of intersection between the
a. MC and AR curves.
b. MC and MR curves.
c. ATC and AR curves.
d. MC and ATC curves.
If point C is now 9 units of guns and 8 units of butter, the maximum units of guns possible to produce is 17 and the maximum units of butter possible to produce is 13, the production possibility curve would have shifted _____________ (outward/inward).
A World Bank study found that charging user fees for medical treatment in developing countries
A. greatly increased treatment rates. B. had no significant effect on treatment rates. C. dramatically reduced treatment rates. D. slightly increased treatment rates.
If product Y is an inferior good, a decrease in consumer incomes will
A. shift the demand curve for product Y to the left. B. make buyers want to buy less of product Y. C. shift the demand curve for product Y to the right. D. not affect the sales of product Y.