A measure of growth in the standard of living is the growth in
A) population.
B) real GDP minus the growth in population.
C) real GDP.
D) employment.
E) population minus the growth in real GDP.
B
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The uses-of-saving identity shows that if the government budget deficit rises, then one of the following must happen
A) Private saving must rise, investment must fall, and/or the current account must fall. B) Private saving must rise, investment must fall, and/or the current account must rise. C) Private saving must rise, investment must rise, and/or the current account must fall. D) Private saving must fall, investment must rise, and/or the current account must rise.
Which of the following is least likely to enhance central bank credibility?
A) "town meetings" on the topic of monetary policy B) policy makers' expertise C) independence from short-run political influences D) accurate measurement of macroeconomic variables