According to the Solow model, a benefit of policies to limit population growth might be ________
A) that smaller families are more likely to contribute to technological advances
B) that smaller families have better access to birth control methods and devices
C) that smaller families might provide each person a larger share of national income
D) that smaller families have less need to save, and so enjoy higher consumption
C
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When there is an improvement in technology, holding all else constant,
a. the production possibilities frontier will shift inward b. society faces larger opportunity costs from shifting productive resources from one use to another c. goods and services will increase in price d. the economy must have some idle resources e. the production possibilities frontier will shift outward
The Kennedy tax cut of 1964 was
a. successful in stimulating the economy. b. designed to shift the aggregate demand curve to the right. c. designed to shift the aggregate supply curve to the right. d. All of the above are correct.
Cost efficiency refers to the
A. Amount of output associated with an additional dollar spent on input. B. MPP of labor divided by the product price. C. Effectiveness of labor in reducing production costs. D. Ability to produce at a level of output where the wage rate is equal to or less than the MRP.
The Federal Reserve does all of the following except
A) make loans to individuals B) influence the supply of money C) influence the value of mone D) regulate the banking system