To raise the United States' rate of economic growth, we need more and better _______ as well as more and better ________.
Fill in the blank(s) with the appropriate word(s).
capital; labor
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Lags in the approval and implementation of fiscal policy: a. weaken fiscal policy as a tool of economic stabilization
b. increase the effectiveness of fiscal policy as a tool of economic stabilization. c. help legislators better assess what policies are most appropriate to adopt. d. make fiscal policy more responsive to the current economic environment. e. cause fiscal policy to be more effective at changing the level of real GDP than changing the price level only in the long run.
Americans love to eat peanut butter & jelly sandwiches. If the price of jelly increases (while other things remain constant), what effect will this have on the market for peanut butter?
a. price rises, quantity falls b. price falls, quantity rises c. both price and quantity fall d. both price and quantity rise e. price rises and quantity remains the same
Suppose that a country imports $90 million worth of goods and services and exports $80 million worth of goods and services. What is the value of net exports?
a. $170 million b. $80 million c. $10 million d. -$10 million
Slight discrepancies in the rates of appreciation versus depreciation of two currencies are related to:
a. a mathematical quirk that percentage increases are always larger than percentage decreases because, in the first case, the denominator is smaller. b. the imprecise nature of the calculations. c. the lack of reliable information. d. the volatile nature of exchange rates.