Economic growth is driven by several factors, including
A. the health of the Social Security trust fund.
B. education and skill levels of workers.
C. government investment in welfare.
D. a progressive tax on income.
Answer: B
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What is arbitrage? Explain why arbitrage drives the contract price of futures to the price of the underlying asset on the expiration date, for prices above and below the asset price
What will be an ideal response?
A favorable supply shock abroad would
a. increase U.S. imports and decrease aggregate demand. b. decrease U.S. net exports and reduce aggregate supply. c. decrease U.S. net exports and decrease national income. d. increase U.S. net exports and increase aggregate demand.
Suppose that velocity and output are constant and that the quantity theory and the Fisher effect both hold. What happens to inflation, real interest rates, and nominal interest rates when the money supply growth rate increases from 5 percent to 10 percent?
The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.Turning PointDateReal GDP (1996 $ billions)(A)July 19531992.2(B)May 19541941.0(C)Apr. 19572182.7(D)Apr. 19582117.4(E)Apr. 19602391.0 Which of the turning points are peaks?
A. (A), (B), and (C) B. (A), (C), and (E) C. (B) and (D) D. (C), (D), and (E)