Economic progress
What will be an ideal response?
reflects that people are achieving higher income levels and living standards.
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Nonexperimental data is called _____.?
A. ?cross-sectional data B. ?observational data C. ?time series data D. ?panel data
When the Fed engages in an open market purchase, the money supply ________ and the nominal interest rate ________.
A. increases; decreases B. decreases; decreases C. increases; increases D. decreases; increases
Efficiency is an important social goal because:
A. movements toward economic efficiency make the total economic pie larger. B. it assures a normative outcome. C. it assures a fair outcome. D. it takes into consideration the distribution of income.
The growth of the labor force and the growth of labor productivity help determine the rate of GDP growth.
Answer the following statement true (T) or false (F)