08 Jun Question Higher real interest rates resulting
Question
Higher real interest rates resulting from a government budget deficit will __________ the amount of loanable funds a firm demands for their investments.
Which of the following uses of tax revenues collected by the government leads to increased capital deepening?
he fraction of additional income spent on imports is called the __________.
Trade deficits always lead to future decreases in consumption if the trade deficits __________.
An event that allows the economy to operate more efficiently by producing more outputs without using any more inputs is referred to as __________.
In developing countries, the highest returns are from investing in __________.
Convergence refers to closing the gap in __________ between poorer countries and richer countries.
Economic growth is severely impeded in economies __________.
If a firm increases its capital stock per person while holding constant the number of workers employed, the firm is said to experience __________.
If the government __________ taxes to pay for spending on infrastructure, the result will most likely be a(n. __________ in capital deepening.
A. increases; increase
B. decreases; increase
C. increases; decrease
D. eliminates; elimination
A. capital augmentation
B. investment deepening
C. labor intensity
D. capital deepening
In making accurate comparisons of GDP across countries, it is important to take differences in __________ into account.
A. population size
B. the average age of the population
C. family size
D. all of the above
A. with a lack of clear property rights
B. with a strong market system
C. with high rates of convergence
D. which encourage induced innovation
According to the text, __________ is perhaps the most critical aspect of a country’s economic performance.
A. growth in GDP
B. the inflation rate
C. the unemployment rate
D. the living standard
A. real GDP
B. real GDP per capita
C. the growth rate in real GDP
D. the growth rate in real GDP per capita
Fluctuations in the demand and supply of loanable funds will in turn bring changes to the __________ of lent and borrowed funds.
A. product recipient
B. mortgage-backed securities
C. equilibrium quantity
D. equilibrium quality
A. transportation systems
B. sanitation systems
C. education
D. defense
According to the method of growth accounting, which of the following contribute to economic growth?
A. capital growth
B. labor growth
C. technological progress
D. all of the above
A. absolute progress
B. efficiency progress
C. capital investment
D. technological progress
What happens to U.S. GDP when foreign countries experience prosperity?
A. It increases because the United States will export more product to those countries.
B. It decreases because the foreign countries will now buy more of their own products.
C. It decreases because the foreign countries will be able to export more at a lower cost.
D. It does not change because U.S. GDP is not affected by other countries’ prosperity.
A. support current investment
B. support current consumption
C. support either current investment or current consumption
D. require borrowing from abroad
The multiplier that arises from equal increases in government spending and taxes is called the __________.
A. simple multiplier
B. tax multiplier
C. balanced budget multiplier
D. government spending multiplier
A. import function
B. marginal propensity to import
C. marginal propensity to export
D. trade balance
What was one of the biggest contributing factors that led to the failure of financial institutions during the recent economic crisis?
A. low interest rates
B. high employment rates
C. rising home prices
D. strong corporate management
A. building roads
B. increased foreign aid
C. Medicare payments
D. Social Security payments
An increase in the capital stock will __________.
A. shift the production function downward
B. shift the production function upward
C. flatten the production function
D. steepen the production function
A. stabilize
B. decrease
C. not affect
D. increase
The idea that investment in comprehensive education in developing countries leads to permanent increases in the rate of technological progress is an example of __________.
A. increasing economic inequality
B. capital deepening
C. new growth theory
D. a trade-off between human capital and technology
Which of the following uses of tax revenues collected by the government leads to increased capital deepening?
A. building roads
B. increased foreign aid
C. Medicare payments
D. Social Security payments
It is possible for an economy to become more productive and per-capita output to increase if __________.
A. new ideas are generated
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