Advances in information and communication technology are the principal factors cited for the:
A. speedup in productivity growth between 1973 and 1995.
B. speedup in productivity growth from 1995-2000.
C. slowdown in productivity growth from 1995-2000.
D. slowdown in productivity growth between 1973 and 1995.
Answer: B
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An exogenous rise in government expenditures will have the same effect on GDP as an equal rise in either autonomous ________ or autonomous ________
A) consumption; investment B) taxes; consumption C) savings; investment D) taxes; investment
In the case of a specific tax the resulting price received by producers depends on
A) who pays the tax. B) the price elasticity of supply. C) the price elasticity of demand. D) All of the above.
A tax multiplier equal to –4.30 would imply that a $100 tax increase would lead to a
a. $430 decline in national income b. $430 increase in national income c. 4.3 percent increase in national income d. 4.3 percent decrease in national income e. 43 percent decrease in national income
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.