The optimal mix of output is the most desirable combination of output attainable with existing
A. Technology and business decisions.
B. Resources, technology, and social values.
C. Resources and products.
D. Resources, government regulations, and technology.
Answer: B
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Which of the following ideas apply to the neoclassical growth theory?
I. The rate of technological change influences the rate of economic growth. II. Technological change promotes saving and investment. III. Convergence of economic growth rates across countries A) I only B) III only C) I and II D) I, II and III
When confronted with rational expectations regarding changes in monetary policy, the short-run Phillips curve may be vertical
Indicate whether the statement is true or false
If the measured elasticity of supply coefficient equals 0.6, then supply is: a. perfectly elastic. b. elastic
c. unit elastic. d. inelastic.
According to the IGM poll, what percentage of economists polled agreed that the benefits of ARRA exceeded the costs?
a. 75% b. 19% c. 6% d. 97%