The two most important factors contributing to increased productivity in industrialized countries in the twentieth century were:
A. higher relative prices and technological progress.
B. higher relative prices and a larger labor supply.
C. technological progress and increases in the labor supply.
D. technological progress and increases in the capital stock.
Answer: D
Economics
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As real U.S. GDP increases, U.S. income increases and so
A) U.S. imports increase. B) U.S. exports decrease. C) U.S. imports decrease. D) investment increases. E) U.S. exports increase.
Economics
If net taxes are decreased by $500 billion, and the marginal propensity to consume is 0.80, then which of the following correctly describes the increase in real GDP that will be generated by the decrease in net taxes?
a. $2 trillion b. $1 trillion c. $500 billion d. $400 billion
Economics