According to new growth theory, as technology becomes more important to growth, so does
A. military spending.
B. increasing trade barriers.
C. increasing taxes.
D. human capital.
Answer: D
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Indicate whether the statement is true or false
Ricardian equivalence implies a tax multiplier of zero
a. True b. False
If policy makers do nothing in response to a recessionary gap, what will happen?
a. a rapid movement toward lower unemployment and higher inflation b. a rapid movement toward lower unemployment and lower inflation c. a slow movement toward lower unemployment and higher inflation d. a slow movement toward lower unemployment and lower inflation
Trade makes costs
a. higher and reduces the variety of goods and services available. b. higher but raises the variety of goods and services available. c. lower but reduces the variety of goods and services available. d. lower and raises the variety of goods and services available.