mcexamples - (d) private, public, and international...

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The two major reasons for the tremendous growth in output in the U.S. economy over the last 125 years are (a) population growth and low inflation. (b) population growth and increased productivity. (c) low unemployment and low inflation. (d) low inflation and low trade deficits. Answer: B The three approaches to measuring economic activity are the (a) cost, income, and expenditure approaches. (b) product, income, and expenditure approaches. (c) consumer, business, and government approaches.
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Unformatted text preview: (d) private, public, and international approaches. Answer: B A mathematical expression relating the amount of output produced to quantities of capital and labor utilized is the (a) real interest rate. (b) productivity relation. (c) production function. (d) marginal product. Answer: C Desired national saving equals (a) Y – C d – G . (b) C d + I d + G . (c) I d + G . (d) Y – I d – G . Answer: A...
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This note was uploaded on 07/17/2008 for the course ECON 508 taught by Professor Fleisher during the Winter '06 term at Ohio State.

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