The Global Positioning System (GPS) is an example of a good that is both non-rival and excludable good.
A. True
B. False
C. Uncertain
A. True
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Which of the following statements CORRECTLY describes the policy stance of a macroeconomist?
A) A monetarist believes that the quantity of money should be constantly changed in order to offset changes in aggregate demand. B) A new classical macroeconomist believes that fiscal and monetary policy are required to maintain full employment. C) A Keynesian believes that if taxes are always kept low and the quantity of money is kept on a steady growth path, no policy actions will be needed to maintain full employment. D) A classical macroeconomist believes that maintaining consistently low taxes will allow the economy to expand at an appropriate and rapid pace.
Which of the following is the correct expression for the approximate expected real interest rate?
A) r = i + B) r = i - C) r = i/ D) r = i
Scarcity:
a. ensures that people become satisfied with less than what they want. b. exists only during a recession. c. exists only in some countries. d. affects only poor people. e. requires people to make choices to satisfy their wants.
Other things the same, higher population growth
a. raises the amount of physical capital per worker and there is some evidence that it raises the pace of technological progress. b. raises the amount of physical capital per worker, but there is some evidence that it reduces the pace of technological progress. c. reduces the amount of physical capital per worker, but there is some evidence that it raises the pace of technological progress. d. reduces the amount of physical capital per worker and there is some evidence that it reduces the pace of technological progress.