Which of the following is the primary source of high earnings in a market economy?
A) a willingness to engage in actions where you gain at the expense of others
B) a willingness to work hard even if you are not productive
C) a willingness to exploit workers and consumers
D) the ability to provide others with things that they value highly
D) the ability to provide others with things that they value highly
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Jane spends her monthly dining-out budget of $300.00 on either steak or lobster dinners. Using the above figure, what is the price of a lobster dinner?
A) $10.00 B) $15.00 C) $20.00 D) $30.00
Teenage unemployment rates tend to be a little lower than the overall unemployment rate.
Answer the following statement true (T) or false (F)
Secular deflation
A) has been a serious problem during the last three decades in the United States. B) although present, has not been a problem during the last three decades in the United States. C) has not been present in the United States since 1959. D) cannot exist in a capitalistic economy.
Identify the “oversimplified multiplier formula.”
A. Multiplier = 1 divided by (1 ? change in GDP) B. Multiplier = 1 divided by (1 ? marginal propensity to consume) C. Multiplier = 1 divided by (1 ? marginal propensity to save) D. Multiplier = 1 divided by (1 ? rate of inflation)