Nations with slower growth rates can "catch up" to rapidly growing countries by
A) using budget deficits as a long-run policy tool.
B) adopting the technologies of the wealthier nations.
C) pressuring the central bank to increase the money supply and reduce interest rates.
D) raising the minimum wage.
E) exporting more than it imports.
B
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Real business cycle theory emphasizes the role of
A) government spending as a cause of economic fluctuations. B) shocks to the money supply as a cause of economic fluctuations. C) demand shocks as a cause of economic fluctuations. D) technology shocks as a cause of economic fluctuations.
An export tariff will ________ producer surplus, ________ consumer surplus, ________ government revenue, and ________ overall domestic national welfare
A) increase; decrease; increase; have an ambiguous effect on B) increase; decrease; decrease; decrease C) increase; decrease; have no effect on; have an ambiguous effect on D) increase; decrease; have no effect on; decrease E) increase; increase; decrease; have an ambiguous effect on