Is it possible to see gains in a nation's real standard of living without any positive economic growth?
A) No, a nation's standard of living cannot improve without economic growth.
B) Yes, but only if the government prints more money so people feel rich.
C) Yes, if workers can produce the same level of output in fewer work hours, so that more leisure time could push up the real standard of living.
D) None of the above: Economic growth has nothing to do with a nation's standard of living.
C
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The health care system in ________ is referred to as a universal health insurance system, under which every resident is required to enroll in either a private or the government-provided health insurance program
A) Canada B) Japan C) the United Kingdom D) the United States
The Taylor rule says that the fed funds rate target is a function of all of the following, except
A) the actual inflation rate. B) the target inflation rate. C) the percentage difference between actual and potential real GDP. D) the level of borrowed reserves.
A good's Demand Curve is QD = 50 - 2P, and its Supply Curve is QS = 40 + P
a. When P = $10, what is the difference, if any, between QD and QS? b. When P = $2, what is the difference, if any, between QD and QS? c. What are the equilibrium values of P and Q?
If California decides to pay for public radio by taxing people based on the number of hours they listen based on voluntary self-reporting, then which of the following is likely to occur as a consequence?
a. Many individuals will overstate the number of hours they listen to public radio to government in order to receive a higher tax bill. b. People who report listening quite a few hours and have a high income will pay a larger proportion of their income in public radio tax than people who report the same number of hours and have a low income. c. Many individuals will understate the number of hours they listen to public radio to government in order to reduce their tax bill. d. Many individuals will overstate the number of hours they listen to public radio to government in order to receive a lower tax bill.