Generally, how does the standard of living in the United States today compare to the standard of living in other countries? To the standard of living in the United States a century ago?

Why is average labor productivity a particularly important economic variable?

True or false: Economic growth within a particular country generally proceeds at a constant rate. Explain.

True or false: Differences of opinion about economic policy recommendations can always be resolved by objective analysis of the issues. Explain.

What type of macroeconomic policy (monetary, fiscal, structural) might include each of the following actions?

a. A broad government initiative to reduce the country's reliance on agriculture and promote high-technology industries.

b. A reduction in income tax rates.

c. Provision of additional cash to the banking system.

d. An attempt to reduce the government budget deficit by reducing spending.

e. A decision by a developing country to reduce government control of the economy and to become more market oriented.