Bundle: Principles of Macroeconomics, Loose-Leaf Version, 7th + Aplia, 1 term Printed Access Card
7th Edition
ISBN: 9781305134935
Author: N. Gregory Mankiw
Publisher: Cengage Learning
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Chapter 12, Problem 3QCMC
To determine
Natural resources and growth.
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More economists are_______that natural resources will eventually limit economic growth.As evidence, they note that the prices of most natural resources,adusted for overall inflation,have tended to_______ overtime.a.concerned,riseb.concerned,fallc.not concerned,rised.not concerned,fall
Most economists are_____ that natural resources will eventually limit economic growth. As evidence, they note that the prices of most natural resources, adjusted for overall inflation, have tended to _____ over time.
a. concerned, rise
b.concerned, fall
c. not concerned, rise
d. not concerned, fall
The Trump administration's policies to increase long-run economic growth included all of the following except
A.
increasing the
employment–population
ratio.
B.
reducing business taxes to increase investment spending.
C.
increasing business startups by reducing regulations and taxes on small businesses.
D.
raising the federal minimum wage.
Chapter 12 Solutions
Bundle: Principles of Macroeconomics, Loose-Leaf Version, 7th + Aplia, 1 term Printed Access Card
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- Most economists are _________ that naturalresources will eventually limit economic growth. Asevidence, they note that the prices of most naturalresources, adjusted for overall inflation, have tendedto _________ over time.a. concerned; riseb. concerned; fallc. not concerned; rised. not concerned; fallarrow_forwardFour of the determinants of economic growth relate to supply side, i.e. the physical ability of the economy to produce. Which of the following is not one of those? Select one: a. Increases in the quantity and quality of natural resources. b. Increases in the supply (or stock) of capital goods. c. Improvements in technology. d. Increases in the quantity and quality of human resources. e. Efficient financial institutionsarrow_forward1.How does inflation impact nominal interest rates? 2.Why are private property and property rights so important for a market economy to function efficiently to create economic growth?arrow_forward
- What is the likely effect of increasing public investment in higher education on a country's long-term economic growth? A. It will lead to a decrease in economic growth due to higher taxes. B. It will have no effect on economic growth. C. It will lead to higher long-term economic growth due to an improved labor force. D. It will initially boost economic growth but lead to a decline in the long run.arrow_forward10. What policies can the government of a free-market economy implement to stimulate economic growth? 11. Why does stagflation create such a dilemma for policy makers?arrow_forwardAnswer d only a. What are the ways in which a government policymaker can try to raise the growth in living standards in a society? b. What is the relevance of productive and allocative efficiency to the growth process? c. What is meant by economies of scale and what is the importance of this concept to economic growth? d. Suppose that society decided to reduce consumption and increase investment.i. How would this change affect economic growth? ii. What groups in society would benefit from this change? iii. What groups might be hurt?arrow_forward
- Economists say that long-run economic growth is almost entirely due to: OA) rising productivity. B) population growth. C) a democratically elected government. OD) a balanced budget.arrow_forwardSuppose, due to the effects of a military conflict that has ended, that a country experiences a large reduction in its capital stock. Assume no other effects of this event on the economy. Which of the following will tend to occur as the economy adjusts to this situation? Question 5Select one: A. a relatively low growth rate for some time B. a relative high growth rate for some time C. zero growth for some time, followed by a gradually increasing growth rate D. positive growth, followed by negative growth, and then zero growth E. none of thesearrow_forwarda) What are the main drivers of economic growth in real incomes per head?b) Why does a higher investment rate not lead to a permanent increase in the growth rate of real incomes per head?c) What have been the main benefits of economic growth over the past century or so?d) What are the potential negative effects of growth in recent decades and in the foreseeable future?e) What is the “productivity puzzle” and how is it linked to economic growth?arrow_forward
- Would the following events usually lead to capital deepening? Why or why not? A weak economy in which businesses become reluctant to make long-term investments in physical capital. A rise in international trade. A trend in which many more adults participate in continuing education courses through their employers and at colleges and universities.arrow_forwardExplain why a fall in economic growth could lead to a rise in unemployment. Use a diagram to support your answer.arrow_forwardPolicymakers trying to promote economic growth must confront the issue of what kinds of capital the economy needs most. If policymakers decide to rely on the marketplace to allocate the pool of saving to alternative types of investment, Those industries with the kinds of capital that yield the lowest marginal product will borrow the most. Those industries with the kinds of capital that yield the highest marginal product will borrow the least. All industries will have incentives to borrow more. Those industries with the kinds of capital that yield the highest marginal product will borrow the most.arrow_forward
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