A nation can accelerate economic growth by increasing its production of consumer goods
a. True
b. False
Indicate whether the statement is true or false
False
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In long-run macroeconomic equilibrium
A) real GDP equals potential GDP. B) the price level is fixed and aggregate demand determines real GDP. C) real GDP and the price level are determined by short-run aggregate supply and aggregate demand and long-run aggregate supply is irrelevant. D) real GDP is less than potential GDP.
According to economists, an individual who tries to derive utility from the consumption of a good without paying for it is called:
a. a utility maximizer. b. a free rider. c. an opportunist. d. a profit maximizer.
For diversification to be a successful management strategy, it must
A) generate accounting profits. B) earn normal profits. C) protect market share. D) add value.
A chart of the ratio of national debt to GDP from 1915 to 2014 would show
a. significant increases from 1945 to 1975. b. significant increases during World Wars I and II. c. a larger value in 1975 compared to 1945. d. significant increases from 1995 to 2003.