Rapid growth of government spending in Latin America in the 1970s led to
A) the Debt Crisis.
B) rapid economic growth.
C) direct foreign investment.
D) capital outflows.
A
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An economy is judged efficient if
A. it is good at producing what people want. B. it produces things that people may not want but in the least wasteful way. C. produces whatever people want in a way that may not be the least wasteful. D. it is a free-market economy and not a command market.
A rightward shift of the demand curve will lead to an
A) increase in equilibrium price. B) excess demand at the old equilibrium price. C) increase in quantity supplied. D) All of the above.
Decreases in net taxes, increases in the Z factors, and increases in government spending are contractionary policies.
Answer the following statement true (T) or false (F)
The amount of consumption expenditure that takes place when income is zero is
A) called induced consumption. B) called zero-based consumption. C) equal to zero. D) called autonomous consumption. E) equal to saving.