If the growth rate of resources is zero and real output is growing at 4 percent, then _____
a. the stock of capital has fallen by 4 percent
b. economic growth has fallen by 4 percent
c. total factor productivity has risen by 4 percent
d. the stock of labor has fallen by 4 percent
e. the percentage share of real GDP received by capital has fallen by 4 percent
c
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Refer to the above figure. If real disposable income is less than $5,000, then saving is
A) negative. B) 0. C) positive. D) none of the above: cannot be determined with the given information.
Which of the following is part of the cost of income transfers?
A) Tax-collecting agencies cost money to administer. B) Taxing incomes encourages people to work harder. C) Income transfers make the results more unfair. D) Income transfers increase the size of the economic pie. E) Income transfers are a similar to allocating resources using a lottery.