Exam 14: Economic Growth, the Financial System, and Business Cycles

Briefly explain how the miserliness of Ebenezer Scrooge might actually be beneficial for economic growth.

Economists have not found a way to predict when recessions will begin and end.

Since 1950,expansions in the United States have become ________,while recessions have become ________.

Most economists believe that the return of ________ during the 2007-2009 recession is a key reason why the recession was so severe.

In a closed economy,which of the following components of GDP is not included?

There is a federal budget deficit when

Use the equations for public and private saving to demonstrate how total saving in the economy equals investment.

At the end of an expansion,wages of workers are usually rising faster than prices.

Increasing the amount of consumption spending and reducing the amount of savings ________ investment expenditures,and ________ long-run economic growth in the economy.

There is a government budget surplus if

Since 1900,real GDP in the United States has grown

An increase in the demand for loanable funds will occur if there is

Which of the following is an example of human capital?

If there is public dissaving,investment spending in the economy will decline,holding everything else constant.

According to the National Bureau of Economic Research,the recession that began in December 2007

The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as

Figure 14-5 -Refer to Figure 14-5."Crowding out" of firm investment as a result of a budget deficit is illustrated by the movement from ________ in the graph above.

Borrowers are ________ of loanable funds,and lenders are ________ of loanable funds.

One difference between stocks and bonds is that

According to the National Bureau of Economic Research,the United States experienced ________ recessions since 1950.