There is some agreement between the beliefs of President George W. Bush in 2001 on the effectiveness of tax cuts with the beliefs of former President
A. Keynes.
B. Clinton.
C. Reagan.
D. Carter.
Answer: C
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Economic progress is best measured by
a. the growth rate of prices over time. b. the growth rate of GDP per capita c. the amount of time it takes a worker to work to afford certain goods and services. d. the growth rate in the population.
Which of the following will most likely occur in the short run when the long-run equilibrium of an economy is disturbed by an unanticipated decrease in aggregate demand?
a. a decrease in output and a higher price level b. an increase in output and a higher price level c. a decrease in output and a lower price level d. an increase in output while prices remain unchanged
An example of an in-kind benefit is
A. a welfare payment. B. capital gains. C. a charitable contribution of money. D. public housing.
Which of the following would shift a nation's production possibilities frontier outward?
A) discovering a more efficient process to desalinate water B) an increase in the minimum wage C) a decrease in the unemployment rate D) more restrictive immigration policies