The new growth theory examines the role of
A) technology in economic growth.
B) natural resources in economic growth.
C) exports in economic growth.
D) government in economic growth.
A
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If the Fed pursues expansionary monetary policy then
A) the money supply will increase, interest rates will rise and GDP will rise. B) the money supply will decrease, interest rates will fall and GDP will fall. C) the money supply will decrease, interest rates will rise and GDP will fall. D) the money supply will increase, interest rates will fall and GDP will rise.
Suppose when the price of pizza goes from $8 to $12 per pie, production increases from 2,500 pies to 4,000 pies per month. Using the mid-point method, the percentage change in price is:
A. 40 percent B. 46 percent C. 1.31 D. 0.35
If the Fed sells $10 million in bonds to a bank, and the legal reserve requirement is 20 percent, then the banking system will
a. decrease the money supply by $10 million b. decrease the money supply by $40 million c. decrease the money supply by $50 million d. decrease the money supply by $2 million e. increase the money supply by $50 million
If the cross-price elasticity of demand for two goods is negative, then the two goods are substitutes
a. True b. False Indicate whether the statement is true or false