Productivity growth is the main cause of rising living standards.
Answer the following statement true (T) or false (F)
True
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If the MPC = 4/5, then the government purchases multiplier is
a. 5/4. b. 4/5. c. 5. d. 20.
Trading off capital goods for increasing amounts of consumer goods today will most likely result in
A. decreased long-term growth. B. increases in the quantity of consumer goods. C. decreased prices in consumer goods. D. increased long-term growth.
Why has agriculture become a declining industry over the past half century? Explain
What will be an ideal response?
In order to increase society's well-being, education might be
a. taxed to discourage production b. subsidized to encourage production c. taxed to encourage production d. subsidized to discourage production e. provided without government intervention