Chapter_9_Review_Questions - BAA_AACD

Chapter_9_Review_Questions - BAA_AACD - 1) The only way the...

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1) The only way the standard of living of the average person in a country can increase is if ________ increases faster than ________. 1) A) population; income B) production; population C) income; population D) population; production 2) Which of the following increases labor productivity? 2) A) inventions of new machinery, equipment, or software B) an increase in the aggregate hours of work C) decreases in the availability of computers and factory buildings D) a decline in health of the population 3) There is a government budget surplus if 3) A) T - TR > G. B) G > T. C) TR < T. D) G > TR. 4) An increase in government purchases, ceteris paribus, will 4) A) reduce investment. B) increase the supply of loanable funds. C) increase public savings. D) reduce real GDP. 5) Because ________ in the government budget deficit increase the real interest rate, budget deficits can ________ firm investment. 5)
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This note was uploaded on 04/27/2010 for the course ECON 2010 taught by Professor Roussel during the Spring '08 term at LSU.

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Chapter_9_Review_Questions - BAA_AACD - 1) The only way the...

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