New growth theory supports the idea that I. economic growth can continue as long as we keep finding new ideas. II. increases in human capital can lead to greater rates of economic growth
A) I only
B) II only
C) Both I and II
D) Neither I nor II
C
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Which of the following actions by Representative Morgan would constitute logrolling?
a. defying his party and voting with the other side on major pieces of legislation b. refusing to vote on an issue until more information is available c. voting only for proposals that are popular with the voters in his district d. voting for alcohol sales expansion in exchange for a vote to lower speed limits
The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
In 1940, civilian purchases of goods and services equaled roughly _____ of GDP; by 1943, it had changed to roughly ________ of GDP
a. 97 percent; 57 percent b. 50 percent; 50 percent c. 25 percent; 75 percent d. 50 percent; 10 percent
A nation has a positive net capital outflow. Which of the following is correct?
a. Purchases of foreign assets by domestic residents exceed purchases of domestic assets by foreigners b. It has positive net exports. c. Its savings exceeds its domestic investment. d. All of the above are correct.