Productivity growth is the main cause of rising living standards.
Answer the following statement true (T) or false (F)
True
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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
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?