(A) Zero

(B)Negative

(C)Where the marginal social benefit = the marginal social cost

(D)Total social costs are minimized 

(A) The economy's output per unit labour is below its steady state value

(B)The economy's unemployment rate is too high

(C)The economy's steady state is to at the golden rule steady state

(D)None of these

(A) People want a better environment 

(B)People will be happier

(C)People want less crime

(D)People want higher incomes and more consumer goods

(A) A commonly used measure of the degree of inequity in an income distribution 

(B)The ratio of the percentage of total income received by the top 20% of families to the percentage of total income received by the bottom 20%  of families

(C)A commonly used  measure of the degree of inequality in an income distribution

(D)The most common way of representing the income distribution graphically

(A) Workers 

(B)Participation rate 

(C)None slackers 

(D)Diligent rate 

(A) NNI

(B)GNP

(C)GDP

(D)MPC

(A)

Economic growth is zero

(B)

Economic growth is growing

(C)

All investment is used to maintain the existing capital stock at its current level 

(D)

Economic growth is growing

(A) The growth of the fastest economy in the world.

(B)The fastest growth  an economy has ever achieved

(C)The present rate of growth of an economy.

(D)The rate of growth that could be achieved if resources were fully employed

(A) In a recession 

(B)In a boom 

(C)When there is fast GDP growth

(D)When prices are increasing Fast

(A) Steady state growth path 

(B)Steady state level of output

(C)Unsteady state growth path 

(D)Steady state invention rate