1SS-ECONI03 Version Table U.Saey growtk data for 2007-2009 0 percent 0.7 percent

Question

1SS-ECONI03 Version Table U.Saey growtk data for 2007-2009 0 percent 0.7 percent 0.5 percent -0.5 percent -2.1 percent 0.75 percent 0.7 percent o3s per 2008 57. Refer to Table 4 The U.S. long-run average growth rate in the 2000s was 1.75 percemm. How many were spent in recession during the Great Recession (2007-2009)? d. fout a. two h eight e. twelve 58 Refer to Table 4. What was the average growth rate of the U.S. ecceomy in 2008? a. -0,7 percent b. 1.75 percent . -0.45 percent d. -0.5 percent e. 0.875 percent 59. Transfer payments refer to funds that are transferred from one group in society to another group. a. so these payments have no impact on the government debt. so these payments are unfair to those who lose money in the transfer. b. c. so these payments have no impact on the government budget deficit. d. and these payments represent a growing share of U.S. federal outlays. e. and these payments remain approximately constant over time. 60. Research and development (R&D) tax credits a allow firms to spend resources to develop new technology, which in turn can lead to future production. b will shift the aggregate demand curve to the right. c. are examples of automatic stabilizers. d. are not examples of supply-side fiscal policy initiatives e. will shift the long-run aggregate supply curve to the left. 61. Extra Credit. How do you think your score on this exam ranks relative to all other students in this class? Assess your exam score based on how you honestly think you did in relation to all other students not as you wish your exam score to be. grade distribution of the class. I believe that my exam score will be in theof the 0-20% (lowest fifth) 21-40% (second lowest fifth) 41-60% (median fifth) 61-80% (second highest fifth) 81-100% (highest fifth) a. b, d e, Page 11 /11

Explanation / Answer

As per Chegg guidelines, we are required to answer only first question, but I will try to answer all the questions except the last question that is Q61, because it depends upon your performance in the exam.

Ans 57. (D) because in 5 quarters the growth rate is negative.

Ans 58. (A) The average growth rate in 2008 can be calculated as (-0.7+0.5-0.5-2.1)/4 = 0.7percent.

Ans 59. (D) The transfer payments represents the growing expenditure of US government. It causes a rise in government budget deficit and it is not necessary that these transfer payment expenditure remains constant over time period.

Ans 60. (A) The R&D Tax credits are given by the government to the firms to boost the R&D sector so that the firms can invent new technology or gain new information about the market.

Ans 61. I leave it on to you because these were few questions, so i assume the score would be in the highest fifth (E).

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