True or False - Each is worth 5 points For each of the following questions, CLEARLY indicate whether the statement as it is written is TRUE or FALSE (CIRCLE your answer). NO EXPLANATION IS REQUIRED. 11) An increase in a government's budget deficit will crowd out private investment in the economy. True False 12) Skill-biased technological change has worked to increase inequality in the United States over the last 30 years. True False 13) According to the efficient markets hypothesis, the average investor can construct a well- diversified portfolio whose returns easily beat the performance of the overall stock market. True False 14) When technological ideas cannot easily flow between firms, the incentive for each individual firm to invest in R & D is greater than when ideas can flow easily between firms. True False