The new growth theory emphasizes the critical role of ____ in modern economic growth
a. new machinery
b. new knowledge
c. new natural resources
d. new government programs
b
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All of the following lead to a difference in income EXCEPT
A) sales tax. B) discrimination. C) the age-earnings cycle. D) marginal productivity.
When comparing the percentage of income (or expenditure) of the lowest and highest 10 percent of the population,
a. South Africa has a more equal income distribution than the United States. b. South Africa has a more equal income distribution than Japan. c. Japan has a more equal income distribution than the United States. d. Mexico has a more equal income distribution than Germany.
Which of the following is not a true barrier to human capital development in poor nations?
A. Inequality trap. B. Illiteracy. C. Access to health care professionals. D. Prohibitive costs to meet basic needs.
If the Fed orders a contractionary monetary policy, describe what will happen to the following variables relative to what would have happened without the policy:
a. The money supply b. Interest rates c. Investment d. Consumption e. Net Exports f. The aggregate demand curve g. Real GDP h. The price level