Economists generally assume that ____ economic growth is better for society.
A. slower
B. faster
C. stable
D. declining
Answer: B
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Value-added taxes (VAT) are very popular in the United States.
A. True B. False C. Uncertain
In a perfectly competitive market, producers efficiently use their scarce resources to produce what consumers want and as a result they achieve: a. productive efficiency
b. allocative efficiency. c. economic efficiency. d. constant returns of scale.
The ____ shows roughly how long it will take a nation to double its output at various growth rates
a. rule of rapid growth b. rule of 70 c. rule of 1950 d. duopoly rule
Which of the following does not increase (i.e., shift) the supply curve of real loanable funds?
a. Open market purchases of government securities by the central bank. b. An increase in the discount rate. c. A reduction in the reserve ratio by the central bank. d. A reduction in the preferred asset ratio for currency in circulation (C/D), due to a shift in household preferences. e. All of the above increase the supply.