An increase in capital will increase real GNP per person
a. more in a poor country than a rich country. The increase in real GNP per person will be larger if the addition to capital is from domestic rather than foreign investment.
b. more in a poor country than a rich country. The increase in real GNP per person will be larger if the addition to capital is foreign rather than from domestic investment.
c. less in a poor country than a rich country. The increase in real GNP per person will be larger if the addition to capital is from domestic rather than foreign investment.
d. less in a poor country than a rich country. The increase in real GNP per person will be larger if the addition to capital is foreign rather than from domestic investment.
a
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Which function of money allows for comparison shopping?
A) medium of exchange B) unit of accounting C) store of value D) standard of deferred payment
Union contracts that have built-in cost-of-living adjustments and home mortgages that vary with the rate of inflation are
a. inappropriate ways of combating inflation b. examples of bracket creep c. means of implementing fiscal policy d. examples of steps that can be taken to decrease the adverse impacts of inflation e. examples of failed discarded policies of the 1970s
In a particular economy, the price index was 120 in 2012 and 130 in 2013 . Which of the following statements is correct?
a. The economy experienced a rising price level between 2012 and 2013. b. The economy experienced a higher inflation rate between 2012 and 2013 than it had experienced between 2011 and 2012. c. The inflation rate between 2012 and 2013 was 10 percent. d. The base year is 2011.
If aggregate quantity demanded is greater than aggregate quantity supplied at a particular price level, then
A) consumers will bid prices upward, and a greater quantity of output will be supplied. B) the shortage will likely be eliminated. C) a and b D) none of the above