Per capita output would be certain to increase if:
A. real output decreases and population increases.
B. both real output and population increase.
C. both real output and population decrease.
D. real output increases and population decreases.
Answer: D
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If Alex deposits $1,000 from her paycheck into her checking account and, at the same time, increases her credit card balance by $1,500, then her saving is ________, and her wealth ________.
A. +$1,000; decreases by $500 B. -$500; decreases by $500 C. -$500; increases by $2,500 D. +$500; decreases by $1,000
If you were a supply-side economist, you would argue that high levels of government spending
a. stimulate aggregate demand that in turn creates the incentive for increased aggregate supply b. add to aggregate supply because they bring more resources into being c. is limited by the taxes supplied to it by those paying the tax d. crowd out private sector investment which negatively affects GDP growth e. cause private sector investment to decrease because corporate taxes must be raised to finance the government spending
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
Suppose the growth in GDP per hour resulting from physical capital in an economy is 1% and the growth resulting from human capital is 2%. If the annual growth rate of GDP per hour is 5%, the growth resulting from technology equals:
A) 4%. B) 3%. C) 2%. D) 1%.