Sources of economic growth include
a. additional amounts of more highly skilled and educated labor.
b. additional amounts of capital.
c. new technology.
d. All of these.
d. All of these.
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Refer to Goods X and Y. How would a budget line be affected if income and both prices all simultaneously doubled?
Assume that good X is on the horizontal axis and good Y is on the vertical axis in the consumer-choice diagram. PX denotes the price of good X, PY is the price of good Y, and I is the consumer's income. Unless otherwise stated, the consumer's preferences are assumed to satisfy the standard assumptions. a. It would shift out so that all quantities are doubled. b. It would shift in so that all quantities are halved. c. It would not be affected. d. The slope would be doubled.
You have just noticed that the dollar appreciated and you suspect that U.S. policymakers were behind this change. Which would you choose as the most likely cause of this appreciation in the real exchange rate?
A) An increase in the money supply B) A decrease in the money supply C) A temporary increase in government purchases D) A temporary decrease in taxes
Full employment means which of the following is zero?
A. structural unemployment B. cyclical unemployment C. frictional unemployment D. aggregate unemployment
The most common type of macroeconomic imbalance is overly expansionary fiscal policies that create large government budget deficits, often financed by a high growth rate of the money supply
Indicate whether the statement is true or false