A nation's standard of living is determined by
a. the percentage of its GDP that is accounted for by government purchases.
b. the quantity of natural resources with which it is endowed.
c. the productivity of its workers.
d. factors and events that are beyond the nation's control.
c
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The number of part-time workers for economic reasons ________ during recessions and the number of part-time workers for noneconomic reasons ________ during recessions
A) increases; does not change B) increases; increases C) decreases; increases D) increases; decreases E) does not change; does not change
One criticism of the Fed's policy of forward guidance during the recession of 2007-2009 is that it contributed to a prolonged period of abnormally low interest rates, leading to speculative bubbles in stocks or other financial assets as investors
A) delayed purchasing these assets until interest rates rose. B) chose to sell off these assets due to the low returns on investment. C) borrowed at these low interest rates to buy these assets. D) switched from investing in these assets to assets with higher risks.
Strategic trade policy might work if
A) trade decisions are made simultaneously by two countries. B) trade decisions are made sequentially by two countries. C) trade decisions entail response by a trading partner. D) trade decisions are made in a random fashion.
When a monopolist sells two units of output its total revenue is $150. When it sells three units of output its total revenue, is $180. When the monopolist sells three units of output, the price per unit is
A. $50. B. $60. C. $75. D. $90.