Changes in the saving rate, labor-force growth rate, and depreciation rate will ________ the steady-state level of real GDP per capita and will ________ the steady-state growth rate
A) affect; affect
B) affect; not affect
C) not affect; affect
D) not affect; not affect
B
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It is possible for the United States to compete against cheap foreign labor because expensive domestic workers
A) pay U.S. taxes. B) receive subsidies. C) are more productive. D) belong to unions.
Which of the following barriers to entry can best explain the continued success of a product that has been shown to be, in some way, harmful to the health of consumers?
A) Patent. B) Consumer lock-in. C) Brand loyalty. D) Ownership of an essential resource.
Vertical equity is the concept that people with different levels of income should be treated differently
a. True b. False Indicate whether the statement is true or false
Critics of supply-side economics argue that tax cuts favored by supply-siders will have the greatest effect on
A. aggregate supply. B. tax receipts. C. aggregate demand. D. the money supply.