What is meant by the term economic growth?
What will be an ideal response?
Economic growth occurs when the total output in an economy increases.
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After the financial crisis of 2008, how did some Eurozone governments finance the bailout of their financial sectors?
A) by raising taxes B) by issuing new government bonds, which were purchased by private banks, funded by ECB lending C) by printing more domestic currency to accompany infusions of euros from the ECB D) by selling foreign currency reserves and gold
The median voter is a voter
A. who usually never votes. B. who usually votes based on principle rather than logic. C. whose preference represents the middle point of all voters' preferences. D. who rationally calculates whether to vote in an election.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The best point for society would be
A. either Point B or Point C, as the total amount being produced at either of these points is approximately the same. B. at any of the labeled points, as all of the points represent an efficient allocation of resources. C. Point C, as at this point there are approximately equal amounts of LCD and OLED televisions being produced. D. indeterminate from this information, as we don't have any information about the society's desires.
A ________ is nonrival in consumption and listeners are nonexcludable.
A. concert at a local indoor arena B. satellite radio signal C. lecture in your college's auditorium D. radio signal broadcast through the air