If we are interested in knowing whether a poor country is improving economically, we want to know not only what the economic growth rate is, but also
A) whether the economic growth rate is faster than other nations' growth rates.
B) whether government spending is growing at the same rate.
C) whether the economic growth rate is greater than last year's rate.
D) whether the lowest income groups are benefiting from the growth.
D
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Suppose that for a given firm, the increase in output resulting from the last worker hired is less than the increase in output of the previous worker hired. This is an example of
A) increasing return. B) capital deepening. C) diminishing returns. D) constant returns.
If the Fed follows a policy of fixed exchange rates, an undervalued dollar will force the Fed to
a. conduct open market purchases. b. raise the discount rate. c. raise the required reserve ratio. d. cut taxes or raise government spending.