Modern economic growth often results in the following, except:
A. Less time for ordinary people to enjoy leisure activities because the primary focus is on
production and work
B. Vast increases in wealth and living standards for many groups in the economy
C. Spread of universal education and elimination of ancient social norms
D. Movement towards democracy and the abolishment of feudalism
A. Less time for ordinary people to enjoy leisure activities because the primary focus is on
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The interest rate falls when either the demand for bonds ________ or the supply of bonds ________
A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases
The difference between the corporate bond rate and the risk-free rate of Treasury bonds is called
A) risk premium. B) term premium. C) Fed's premium. D) monetary premium.
If total output is $1,000 and total labor-hours are 20, labor productivity is
A. $20. B. $50. C. $2,000. D. $20,000.
The law of diminishing marginal utility does not apply to goods that a person really enjoys.
Answer the following statement true (T) or false (F)