Given the evidence presented in the Applied Perspective on China's population policy, it appears that by decreasing the rate of population growth, China
a. is likely to experience slower economic growth in the future
b. has been able to increase the size of its agricultural sector relative to the industrialsector
c. has become one of the major grain exporters in the world
d. will lag behind India in population in the coming years
e. has been able to shift more resources into capital accumulation to promote future economic growth
E
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The tax interaction effect is the _________ in excess burden in the labor market stemming from the _______ in real wages caused by a Pigouvian tax.
A. increase; increase B. reduce; reduction C. increase; reduction D. reduction; increase
According to the classical model shown in Figure 4.1, an autonomous decline in investment shifts the investment schedule to the left. Furthermore, the equilibrium interest rate declines. Distance B describes an interest rate induced
a. decline in saving, which is an equal increase in consumption. b. increase in investment. c. decrease in investment. d. decline in saving, which exceeds the increase in consumption.
Suppose y is measured on the vertical axis, x is on the horizontal axis, and the various combinations of x and y are shown by a nonvertical straight line. Which of the following must be true?
a. There is a negative relation between x and y. b. There is a positive relation between x and y. c. There is a causal relation between x and y. d. If the value of x is known, the value of y can be determined. e. The value of y is independent of the value of x.
Suppose Country A and Country B are the only two countries in the world. Country A imports Good X from Country B and exports Good Y. In the absence of any transportation cost, at the world price of Good X
A. Country A's import demand curve will be perfectly inelastic. B. both Country A's import demand curve and Country B's export supply curve are positively sloped. C. Country A's import demand curve will intersect Country B's export supply curve. D. Country B's export supply curve is perfectly inelastic.