In the long run, economic growth is determined by
Answer :
the productivity of inputs.
an increase in labour.
an increase in capital.
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Once the Phillips curve has shifted down, the economy is ________ because ________
A) better off; every unemployment rate becomes associated with a higher inflation rate B) better off; every inflation rate becomes associated with a lower unemployment rate C) worse off; every inflation rate becomes associated with a higher unemployment rate D) worse off; every unemployment rate becomes associated with a lower inflation rate
In reality, a manger ________ be able to maximize the firm's profit period to period due to ________ changes to a firm's demand and/or cost.
A) will; known B) will not; random C) will not; known D) will; random
Look at the following data: GDP = $3,590 billion; consumption = $1,820 billion; exports = $450 billion; investment = $1,250 billion; government purchases = $900 billion. Imports is equal to __________ billion.
A. $830 B. $1,460 C. -$830 D. $1,240 E. none of the above
A right-to-work law makes it illegal for
A) employers to refuse to hire union workers. B) union membership to be a requirement for continued employment in any establishment. C) union membership to be denied on the basis of race, gender, or national origin. D) a union to exist in a state.