Which of the following statements is TRUE about the relationship between high birthrates and real GDP growth?
A) High birthrates in countries with little economic freedom will lead to higher labor force participation rates that in turn lead to higher growth of real GDP.
B) High birthrates reduce per capita incomes, and a lack of economic freedom inhibits real GDP growth.
C) There is no relationship between birthrates and real GDP growth.
D) The influence that birthrates have on real GDP growth is the same in countries whether or not economic freedom exits.
B
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Which of the following statements is true?
A. The Federal Reserve sets the federal funds rate. B. The Federal Reserve will set a higher target for the federal funds rate if pursuing an expansionary monetary policy. C. The Federal Reserve sets the target for the federal funds rate, and then uses the reserve requirement to push banks toward that target. D. The Federal Reserve does not set the federal funds rate, but it influences it through the use of its open-market operations.
What is the relationship between the marginal product curve and the total product curve?
What will be an ideal response?
The managers of government bureaucracies have an incentive to _____
a. maximize the size of their budgets b. minimize the size of their staff c. maximize the profits from their bureaus d. minimize rent-seeking
Approximately how much of aggregate national income in the United States is spent on health care today?
A) 2 percent B) 7 percent C) 17 percent D) 34 percent