One consequence of the long-run problem faced by farms has been a:
A. rapid increase in the price of farm output.
B. massive exit of workers from agriculture to other sectors of the economy.
C. smaller average farm size.
D. reduction in U.S. exports of farm products.
Answer: B
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The development of human capital
A) is a form of investment. B) enhances economic growth, but the individuals acquiring the capital are not made better off themselves. C) does not appear to enhance economic growth. D) enhances economic growth, but it does not improve the productivity of the labor force.
The balanced-budget multiplier is equal to the
A) the autonomous spending multiplier. B) government spending multiplier plus the tax multiplier. C) simple multiplier minus the tax multiplier. D) government spending multiplier plus the simple multiplier.