Suppose consumers and business decision makers become more optimistic about the future, and aggregate expenditures increase. The most likely result is that:
a. real GDP and employment and income to decline.
b. real GDP and employment rise.
c. real GDP rises and employment falls.
d. real GDP falls and employment rises.
b
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Entrepreneurs contribute to increased average labor productivity in each of the following ways except by:
A. developing new products. B. introducing new production methods. C. assigning workers to jobs. D. implementing new technological processes.
The American Revolution changed the basic structure of private property rights inherited during the colonial period
Indicate whether the statement is true or false
In the very short-run period,
A. the price elasticity of supply is very elastic. B. the price elasticity of demand is very elastic. C. the cross elasticity of demand is very inelastic. D. the price elasticity of supply is very inelastic.
Infrastructure, such as public works and public services, is also referred to as
A. social capital. B. human capital. C. tangible capital. D. intangible capital.