Which one of the following statements is TRUE?
A. It is easy for dead capital resources to be allocated to their best possible use.
B. Dead capital is most frequently found in countries with well-defined property rights.
C. It is difficult for dead capital resources to be insured or traded.
D. Dead capital is most frequently found in the most prosperous countries.
Answer: C
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Starting from long-run equilibrium, a large tax cut will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; higher B. expansionary; higher; potential C. recessionary; higher; potential D. recessionary; lower; lower
How does the demand for any one seller's product in perfect competition compare to the market demand for that product?
A) They are identical. B) The demand for any one seller is proportionally smaller but otherwise identical to the market demand. C) The demand for any one seller's product is perfectly elastic while the market demand curve is downward sloping. D) There is no demand for any one seller's competitively sold product. E) The demand for any one seller's product is not perfectly elastic while the market demand is perfectly elastic.
The balance on current account records information about: a. purchases of U.S. financial assets by foreigners
b. purchases of foreign financial assets by Americans. c. the levels of imports and exports of goods and services for a country. d. foreign investments in U.S. bonds, stocks, and other items.
Which of the following was one of the likely causes of the productivity problem in the 1970s?
A. a reduction in government regulation B. an increase in investment spending C. low saving rates D. increased research and development spending