Technological knowledge
a. is the same thing as human capital.
b. can be discovered but it can never be kept secret.
c. is a determinant of productivity.
d. does not play a role in the relationship that economists call the production function.
c
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When the external balance relationship between government spending and money stock is positive, then the
A) internal balance between them must be negative. B) internal balance between them might be negative or positive. C) internal balance between them must also be positive. D) internal balance between them would not exist.
If the unemployment rate rises, which policies would both be appropriate to reduce it?
a. increase taxes, increase government spending b. increase taxes, decrease government spending c. decrease taxes, increase government spending d. decrease taxes, decrease government spending
When American companies buy office buildings in Australia, they are generating a
A. Demand for U.S. dollars and a supply of a foreign currency. B. Demand for U.S. dollars and a demand for a foreign currency. C. Supply of U.S. dollars and a demand for a foreign currency. D. Supply of U.S. dollars and a supply of a foreign currency.
A conclusion of the theory of rational expectations is that the impact of discretionary fiscal policies designed to shift the aggregate demand curve will
A. result in no net change in aggregate demand. B. be anticipated and compensated for, causing no significant change in real GDP or employment levels. C. be completely opposite of the intended result. D. be incorrectly evaluated by most economists.