Economic growth is usually defined as
A) the increase in output over time, as measured by real per capita Gross Domestic Product (GDP).
B) the reduction in the real cost of necessities.
C) the rate of increase in output divided by the increase in labor.
D) the increase in input availability.
A
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If there is no Ricardo-Barro effect, an increase in the budget deficit
A) decreases the amount of investment. B) increases the supply of loanable funds. C) lowers the equilibrium real interest rate. D) increases the amount of investment. E) decreases the demand for loanable funds.
The Federal Reserve System regulates the money supply primarily by:
A. controlling the production of coins at the U.S. mint. B. altering the reserve requirements of commercial banks and thereby the ability of banks to make loans. C. altering the reserves of commercial banks, largely through sales and purchases of government bonds. D. restricting the issuance of Federal Reserve Notes because paper money is the largest portion of the money supply.