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Here's an economics multiple choice question for you all
Posted on 5/15/14 at 4:14 pm
Posted on 5/15/14 at 4:14 pm
So I'm taking the Social Studies Praxis next month and I decided to do the practice test for it today. There are 15 economics questions. Here's one of them.
An increase in which of the following is most likely to increase economic growth?
A. Productivity
B. Personal taxes
C. Consumer spending
D. Interest rates
And just for the hell of it, you can answer HERE as well.
ETA: The answer is A.
An increase in which of the following is most likely to increase economic growth?
A. Productivity
B. Personal taxes
C. Consumer spending
D. Interest rates
And just for the hell of it, you can answer HERE as well.
ETA: The answer is A.
This post was edited on 5/15/14 at 7:44 pm
8
Posted on 5/15/14 at 4:24 pm to bayoubengals88
A
Posted on 5/15/14 at 4:26 pm to bayoubengals88
A
Posted on 5/15/14 at 4:27 pm to bayoubengals88
I would go with C but you can make a case that if they are basing "economic growth" solely on GDP, you could say A
Posted on 5/15/14 at 4:55 pm to bayoubengals88
A.
C is wrong because an increase in consumer spending, all else equal, means a lower savings rate. Lower savings rate ---> less growth
C is wrong because an increase in consumer spending, all else equal, means a lower savings rate. Lower savings rate ---> less growth
Posted on 5/15/14 at 5:34 pm to bayoubengals88
Patiently waiting for the supposed correct answer. If they say it's B I'll break stuff.
Posted on 5/15/14 at 5:37 pm to bayoubengals88
I went with C. I'm not entirely sure but that's what my gut said.
Posted on 5/15/14 at 5:57 pm to bayoubengals88
C
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