EBK ESSENTIALS OF ECONOMICS
8th Edition
ISBN: 8220103599832
Author: Mankiw
Publisher: Cengage Learning US
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Question
Chapter 17, Problem 3CQQ
To determine
Natural resources and growth.
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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.
In the 1870s and 1880s, the US economy grew faster than ever before and quickly became the largest economy in the world. What factor(s) contributed to this incredible economic growth the most? Some possible factors you can mention are big business owners, known as robber barons, immigration, the engineering revolution, railroads, etc.
Chapter 17 Solutions
EBK ESSENTIALS OF ECONOMICS
Ch. 17.1 - Prob. 1QQCh. 17.2 - Prob. 2QQCh. 17.3 - Prob. 3QQCh. 17 - Prob. 1CQQCh. 17 - Prob. 2CQQCh. 17 - Prob. 3CQQCh. 17 - Prob. 4CQQCh. 17 - Prob. 5CQQCh. 17 - Prob. 6CQQCh. 17 - Prob. 1QR
Ch. 17 - List and describe four determinants of...Ch. 17 - Prob. 3QRCh. 17 - Prob. 4QRCh. 17 - Prob. 5QRCh. 17 - Prob. 6QRCh. 17 - Prob. 7QRCh. 17 - Prob. 8QRCh. 17 - Prob. 1PACh. 17 - Prob. 2PACh. 17 - Prob. 3PACh. 17 - Prob. 4PACh. 17 - Prob. 5PACh. 17 - Prob. 6PACh. 17 - Prob. 7PACh. 17 - Prob. 8PACh. 17 - Prob. 9PA
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- Four 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_forwardUse the graph shown below to calculate the growth rate of real GDP for a price increase of 20 percentage points in each case. Enter your responses below rounded to one decimal place. Price index AS 160 155 150 145 140 135 130 125 120 115 110 105 100 95 90 85 80 1050 1100 1150 1200 1250 1300 1350 1400 Real GDP a. If the present price level is 100, the growth rate of real GDP is b. If the present price level is 120, the growth rate of real GDP is %. %.arrow_forwardWhat 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_forward
- 10. 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_forward1arrow_forwardEconomists 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_forward
- 82arrow_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_forwardWould 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_forward
- t Provide 2 substantive postings to each of the 3 Discussion Question's each week. 2. What are the principal sources of economic growth? Provide 2 substantive postings to each of the 3 Discussion Question's each week. 3. Explain the policy tools necessary for accelerated growth.arrow_forwardDemand management policies do not matter for growth in the long run as long as there is productivity growth. Why or why not? Solve in 20 minarrow_forward1) The initial investments in education or health led to a stream of higher future income. 2) The population growth, as the evidence suggests, also has a positive effect on economic growth. a. First statement is TRUE, second is FALSE b. First statement is FALSE, second is TRUE c. Both statements are TRUE d. Both statements are FALSEarrow_forward
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