Labor-saving technological advances decrease the marginal productivity of labor
a. True
b. False
Indicate whether the statement is true or false
True
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Net unilateral transfers would appear in a nation's
A) current account. B) capital account. C) official reserve transaction account. D) financial account.
The simplified expenditure multiplier:
A. grows larger as the marginal propensity to consume increases. B. is calculated as 1/(1 ? MP). C. has a positive value. D. All of these are true.
Which of the following would be an example of expansionary fiscal policy?
A) An increase in the individual income tax rate. B) Extending the period in which unemployed workers can collect unemployment benefits. C) A decrease in the amount of federal grants given to college students D) A decrease in interest rates.
Consider two goods--one that generates external benefits and another that generates external costs. A competitive market economy would tend to produce
a. too much of both goods. b. too little of both goods. c. too much of the good that generates external benefits and too little of the good that generates external costs. d. too little of the good that generates external benefits and too much of the good that generates external costs.