Which of the following statements is TRUE about the relationship between high birthrates and real Gross Domestic Product (GDP) growth?
A. The influence that birthrates have on real GDP growth is the same in countries whether or not economic freedom exits.
B. High birthrates in countries with little economic freedom will lead to higher labor force participation rates that in turn lead to higher growth of real GDP.
C. There is no relationship between birthrates and real GDP growth.
D. High birthrates reduce per capita incomes, and a lack of economic freedom inhibits real GDP growth.
Answer: D
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The marginal propensity to consume (MPC) is
A) the percentage of real disposable income saved. B) the percentage of an additional dollar of real disposable income that will go toward additional real consumption spending. C) the percentage of real disposable income consumed. D) the rate at which real consumption spending changes over time.
In the United States, of the following decades inflation was highest during the ________.,
A) 1970s B) 1990s C) 1960s D) 2000s
What are the key differences among public production, private subsidies, and vouchers?
What will be an ideal response?
Suppose union workers are earning more than similarly qualified nonunion workers. From this, we can conclude that
A) unemployment of union workers must have increased. B) unemployment of nonunion workers must have increased. C) productivity of union workers must be greater than the productivity of nonunion workers. D) Any of the above are possible and we cannot tell which without having more information.