The growth theory that predicts perpetual economic growth is
A) classical growth theory.
B) neoclassical growth theory.
C) the new growth theory.
D) real growth theory.
C
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Which of the following is NOT a macroeconomic question?
A) How does a fiscal stimulus package affect gross domestic product? B) Should Congress enact tougher immigration laws to reduce unemployment? C) Should we have a constitutional amendment requiring the federal government to balance the budget each year? D) Should restaurants be required to list the number of calories for each product on their menus?
If real GDP grows by 3 percent, the velocity of circulation grows by 4 percent, and the quantity of money grows by 3 percent, then in the long run the inflation rate is
A) 0 percent. B) 7 percent. C) 10 percent. D) 4 percent. E) -4 percent.
A production possibilities frontier can shift outward for all of the following reasons except one. Which is the exception?
a. a decrease in the unemployment rate b. an improvement in labor skills c. an improvement in technology d. a larger work force e. a larger capital stock
Price floors, when applied to agricultural markets, have
a. promoted the interests of consumers b. reflected the government's desire for greater equality in the distribution of goods among consumers c. created the need to print ration coupons d. created excess supply, which meant that the government would have to buy the excess supply to keep the prices from falling below the price floor e. created excess demand, which meant that the government had to prevent the price floor from rising above the equilibrium price