Which of the following is not a true barrier to human capital development in poor nations?
A. Inequality trap.
B. Illiteracy.
C. Access to health care professionals.
D. Prohibitive costs to meet basic needs.
Answer: D
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The level toward which the economy is moving and where it will stay unless spending patterns of the economy will change is called the equilibrium level of output and income
Indicate whether the statement is true or false
Fiscal restraint is defined as
A. Tax cuts or spending hikes intended to reduce aggregate demand. B. Tax cuts or spending hikes intended to increase aggregate demand. C. Tax hikes or spending cuts intended to reduce aggregate demand. D. Tax hikes or spending cuts intended to increase aggregate demand.
When the production process extends over more than one year, the value of the final product is:
A. included in GDP for the year in which production began. B. included in GDP for the year in which production was completed. C. allocated equally to GDP in each year. D. allocated to GDP in each year according to the value added in that year.
If supply increases and demand is unchanged, the equilibrium price ____ and the equilibrium quantity ____. Question 20 options:
A. rises; decreases B. does not change; does not change C, falls; decreases D. rises; increases E. falls; increases