Which of the following is not considered a factor contributing to economic growth?
a. Growth in the quantity and quality of labor resources used
b. Growth in physical capital inputs (machines, tools, buildings, and inventories)
c. Growth in the money supply relative to the growth of final goods and services
d. Government protection of property rights
c
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In terms of the best practices frontier, a long term strategy
A) shifts the frontier B) moves a firm along a frontier C) may cause a firm to move inside the frontier D) may rotate the frontier toward the horizontal axis
If a “conservative” wanted to increase aggregate demand, which of the following would he or she tend to favor?
A. An increase in government spending, because it has a larger multiplier than tax changes. B. A decrease in transfer payments, because it keeps the public sector small. C. An increase in transfer payments, because it has a larger multiplier than tax changes. D. A decrease in taxes, because it makes the public sector smaller.