Which of the following is not a rationale for development planning?
(a) capital market failures.
(b) rent seeking behavior.
(c) attitudinal or psychological impact.
(d) all are rationales for development planning in developing countries.
B
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Refer to Figure 23-2. If the U.S. economy is currently at point K, which of the following could cause it to move to point N?
A) Household wealth declines. B) The price level in the United States falls relative to the price level in other countries. C) The interest rate rises. D) Congress abolishes investment tax incentives.
In the monetarist view, a bond-financed increase in government spending would have a strong effect on real output in
a. both the short run and the long run. b. the short run but not the long run. c. the long run but not the short run. d. neither the short run nor the long run.