Which of the following is not considered a factor that contributes to economic growth?
a. increased labor productivity
b. increased infant mortality rates
c. technological advances
d. the migration of resources from areas of low productivity to areas of high productivity
b
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Country X is the largest producer and exporter of oil in the world. Which of the following is likely to happen if the world demand for oil increases?
A) Country X's labor demand curve will shift to the right. B) Asset prices in Country X will fall. C) Country X's labor supply curve will shift to the left. D) Consumption expenditure in Country X will fall.
Injections to the circular flow model include saving, taxes, exports, and investment.
Answer the following statement true (T) or false (F)
The current U.S. economy is based primarily on the production of
A. Agricultural goods. B. Goods for federal government use. C. Services. D. Manufacturing goods.
Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following will not cause the production possibility frontier to shift from ppf1 to ppf2?
A. a decrease in the unemployment rate B. an increase in the stock of capital C. an improvement in technology D. the discovery of previously unknown oil fields