The full-employment level of real GDP is the level which can be produced with:
a. both given technology and productive resources, and cyclical unemployment equal to zero.
b. both given technology and productive resources, and frictional and structural unemployment equal to zero.
c. given technology and productive resources.
d. frictional and structural unemployment equal to zero.
e. cyclical unemployment equal to zero.
a
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If the objective of economic policy is to decrease the amount of pollution by an industry in the long run, the
A. most effective policy action would be a subsidy to firms for the reduction of emissions. B. most effective policy action would be a tax on polluting firms. C. appropriate course of action for government is to do nothing. D. appropriate course of action for government is to increase R&D outlays to develop technology to remove the emissions from the environment.
Since 1900, real GDP in the United States has grown
A) more rapidly than the population. B) as rapidly as the population. C) more slowly than the population. D) in a random unpredictable manner relative to the population.
Diversification
a. increases the likely fluctuation in a portfolio's return, but reduces market risk. b. increases the likely fluctuation in a portfolio's return, but reduces firm-specific risk.. c. reduces the likely fluctuation in a portfolio's return and reduces market risk. d. reduces the likely fluctuation in a portfolio's return and reduces firm-specific risk.
Which of the following is the best definition of money?
A. capital B. is something with value C. is printed on paper D. is used for purchases