New growth theory puts emphasis on
A) ideas.
B) experimenting with new ways of doing things.
C) rearranging resources in ways that are more valuable.
D) b and c
E) a, b, and c
E
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When disposable income increases from $9 trillion to $10 trillion, consumption expenditure increases from $6 trillion to $6.8 trillion. The MPC is
A) 0.60. B) $6.8 trillion. C) 0.68. D) 1.00. E) 0.80.
The U.S. is probably the most open international market among the industrialized countries. What then does the U.S. have to gain by joining the WTO?
What will be an ideal response?
Personal income taxes:
a. make recessions and inflationary episodes more severe. b. make recessions and inflationary episodes less severe. c. make recessions more severe and inflationary episodes less severe. d. make recessions less severe and inflationary episodes more severe. e. have no effect on the severity of recessions and inflationary episodes.
Federal tax legislation makes it cheaper for individuals and families to pay for health care
a. by purchasing an insurance policy through their employer rather than paying for it directly with their own money. b. by purchasing an insurance policy through their employer rather than directly purchasing health insurance from the company of their choice. c. directly rather than through an insurance policy offered through their employer. d. by both a and b above.