Which of the following is NOT an important factor affecting economic growth?
A. the rate of growth of capital
B. the growth of leisure
C. the rate of growth in labor productivity
D. the rate of saving
Answer: B
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The loanable funds market is also referred to as the:
A) spot market. B) credit market. C) exchange market. D) capital market.
An economy where private individuals guided by the invisible hand make decisions is known as a:
A. market economy. B. centrally planned economy. C. socialist economy. D. barter economy.
If the aggregate supply curve is upward-sloping, a decrease in aggregate demand will cause
A. A decrease in the price level and an increase in unemployment. B. An increase in the price level and a decrease in unemployment. C. An increase in the price level and an increase in unemployment. D. A decrease in the price level and a decrease in unemployment.
Expansionary fiscal policy is so named because it:
A. involves an expansion of the nation's money supply. B. necessarily expands the size of government. C. is aimed at achieving greater price stability. D. is designed to expand real GDP.