One of the problems with the definition of economic growth is that
A. it does not account for the distribution of income.
B. it understates economic growth because it does not account for a higher standard of living.
C. it overstates economic growth because it does not account for the reduction in work time.
D. it overstates economic growth because it does not account for leisure time.
Answer: A
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When Zynga, the company behind the social games CityVille and Words With Friends, sold stock to the public for the first time in December 2011, funds were being raised in a ________ market, and when those newly issued shares are resold to other
buyers, the sales take place in a ________ market. A) primary; secondary B) secondary; secondary C) secondary; primary D) primary; primary
Monetary policy is determined by a committee whose voting members include all the presidents of the regional Federal Reserve Banks
a. True b. False Indicate whether the statement is true or false
The opportunity cost of working is the
A. Wage rate. B. Amount of leisure time that must be given up in the process. C. Earnings that could be made in an alternative job. D. Amount of consumption that is made possible.
Which of the following investments is part of a positional arms race?
A. Playing golf for fun B. Watching your friend train for a soccer game C. Studying hard for your economics exam because your professor grades on a curve D. Renting movies for the weekend