Which of the following is not a determinant of the long-run level of real GDP?
a. the price level.
b. the amount of capital used by firms.
c. available stock of human capital.
d. available technology
a
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Borrowers who stated but did not document their incomes are referred to as:
A) subprime B) alt A C) adjustable D) securitized
Which of the following is an example of a normative statement?
A. Tom is a college student. B. Immigration should be allowed in the United States. C. The cost of basic health insurance rose from the previous year. D. The federal minimum wage is $7.25.
Answer the following statements true (T) or false (F)
1. Over the span of many years, a student and her family invest significant amounts of time and money into that student’s education. It is worth it, because median weekly earnings are about 10% higher for workers who have completed more education. 2. Cooperation between government-funded universities, academies, and the private sector has been shown to delay product innovation and repress whole new industries. 3. All goods and services with positive externalities are also public goods. 4. Government spending and taxes are not the only way to provide public goods. 5. Because nobody owns the ocean, or the creatures that live in it, no one has the ability to protect these resources and ensure they are responsibly harvested.
What is the best measure of the value of output of an economy?
A. GDP B. GNP C. NNP D. the GDP deflator