What does the fact that U.S. students are falling behind other nations' students in math and science have to do with economic growth?
A) Nothing. People in the United States just don't like to fall behind in anything as a matter of pride.
B) If U.S. students don't excel in math and science, the nation will see fewer plays written and fewer pieces of music composed.
C) Better technology, a key to economic growth, depends largely on math and science skills.
D) Math and science skills don't foster economic growth, but it takes math skills to calculate a nation's rate of economic growth.
C
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Refer to the scenario above. The housekeeper's behavior is an example of a ________
A) moral hazard B) positive externality C) prisoners' dilemma D) tragedy of the commons
Union membership rates in the U.S. are
a. highest among government employees b. highest among industrial sector employees c. highest among service sector employees d. increasing at a faster rate than the labor force e. highest among women
Which of the following statements best describes the problem of stagflation?
A. Both inflation and economic expansion are occurring simultaneously. B. Prices are falling at the same time aggregate output is increasing. C. It is a period where both prices and unemployment increase simultaneously. D. There are unrestricted increases in aggregate demand along a vertical aggregate supply curve.
At equilibrium, if quantity supplied is 16, quantity demanded
A. is less than 16. B. is 16. C. is more than 16. D. cannot be found without more information.