In order to raise the rate of economic growth we would need to
A. increase the level of capital.
B. reduce the level of labor.
C. spend more on military goods.
D. spend more on consumer goods.
A. increase the level of capital.
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The "Buy American" provision in the 2009 stimulus package required that stimulus money be spent only on U.S.-made goods, effectively acting as a quota of zero imports when stimulus money was being spent. In the U.S
steel market, the "Buy American" provision in the 2009 stimulus package would A) reduce the producer surplus received by foreign manufacturers. B) transfer some deadweight loss to producer surplus. C) transfer some producer surplus to consumer surplus. D) convert some consumer surplus to deadweight loss.
Using the Cambridge equation, by how much does the demand for money rise at a constant real GDP of $2,000 billion when the price level rises by 10 percent from 1.00, given k = 0.25?
A) $200 billion B) $20 billion C) $550 billion D) $50 billion