Economists have determined that there are four factors that seem to strongly affect a nation's rate of economic development. Which is NOT one of these four factors?
A) supporting current industries and the jobs they provide instead of adopting new technology that brings disruptive social changes
B) developing an educated population
C) establishing a system of property rights
D) limiting the extent to which the government imposes trade barriers
A
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Studies show that improved education of women in developing countries leads to
(a) lower infant mortality. (b) better designed, market based development policies. (c) lower international dependence. (d) all of the above.
Refer to the following graphs for a two-sector economy consisting of consumption and investment expenditures. Saving exceeds investment at a real income of _____ and therefore the real income level will _____ toward an equilibrium real income of _____.
a. Y4; fall; Y3
b. Y2; rise; Y3
c. Y1; rise; Y3
d. Y3; rise; Y4
According to the law of increasing opportunity cost,
a. opportunity cost rises as technology improves b. the production possibilities frontier is a straight line c. opportunity cost rises as society produces more of a good or service d. the production possibilities frontier is convex with respect to the origin (that is bowed toward the origin) e. monetary costs rise as opportunity cost rises
The government could close an inflationary gap by increasing government spending by some amount greater than taxes
Indicate whether the statement is true or false