Which of the following is correct?
a. An increase in the quantity of labor always leads to economic growth
b. Increased education adds to the stock of human capital, not unlike building factories adds to the stock of physical capital.
c. A decrease in the productivity of labor leads to economic growth.
d. Japan and Hong Kong are rich in natural resources.
b
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What was the purpose of the stress test administered by the Treasury in 2009?
A) Evaluate potential losses of Fannie Mae and Freddie Mac. B) Assess the viability of AIG. C) Gauge how well the largest financial firms would fare if the recession deepened. D) Evaluate the solvency of the major investment banks.
In the late 1990s, the more than expected increases in tax revenues were the result of
a. rapid economic growth. b. rapid increases in the national debt. c. rising rates of inflation, and therefore, nominal incomes. d. rising balance of trade surpluses and the import duties they generated.
Anti-poverty programs
a. encourage saving among recipient groups. b. impose a very low marginal tax rate on income. c. are only made available to those with no other source of income. d. may discourage the poor from escaping poverty on their own.
A woman in Duluth, Minnesota, bought tickets to a Minnesota Vikings game. Her check was deposited in a bank in Minneapolis. From there it went directly to
A. the Federal Reserve District Bank in Minneapolis. B. the Federal Reserve Bank in Washington, D.C. C. her bank in Duluth.