The household survey asks adults about their employment status and is used to compile the monthly unemployment rate
Indicate whether the statement is true or false
TRUE
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The productivity of land is the most important factor that determines the standard of living of a country
a. True b. False Indicate whether the statement is true or false
The velocity of money is:
A. money supply divided by prices. B. spending divided by output. C. required monetary reserves divided by income. D. GDP divided by the money supply.
If the price elasticity of demand for water is inelastic, which of the following could be a possible value of the elasticity?
A. 2 B. 1 C. 0.5 D. All of these
If a manufacturer does not have to pay for its contribution to pollution, it will produce
A. Inefficiently from a private viewpoint. B. Too much output from a social viewpoint. C. Unprofitably from a private viewpoint. D. At a price that is too high from a social viewpoint.