GDP is adjusted to reflect changes in the quality of the environment such as changes in air and water quality
a. True
b. False
Indicate whether the statement is true or false
False
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Average productivity can be measured as total output divided by total units of labor
a. True b. False Indicate whether the statement is true or false
The government has a balanced budget if
A) its total revenues are equal to its total expenditures. B) its total revenues are less than its total expenditures. C) its total revenues are greater than its total expenditures. D) the money supply is less than total expenditures.
For country A, an import is a good produced in:
A. country B and purchased by residents of country B. B. country B and purchased by residents of country A. C. country A and purchased by residents of country B. D. country A and purchased by residents of country A.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, as the economy moves from Point E to Point A, the opportunity cost of hybrid cars, measured in terms of motorcycles
A. increases. B. initially increases, then decreases. C. decreases. D. remains constant.