According to Figure 6.1, the period from 1996 to 2011 is particularly remarkable for the slow growth of ________
A) productivity
B) labor input
C) output
D) capital input
B
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Of these policies, which is the best example of constrained discretion?
A) the annual federal budget deficit shall not exceed three percent of the GDP B) the growth rate of the money supply shall be between two percent and five percent C) macroeconomic policies shall promote rapid economic growth and low inflation D) macroeconomic policies shall aim to keep inflation — on average over each five-year interval — within a range of two percent to four percent
Federal housing policies have substantially reduced the established patterns of housing segregation
Indicate whether the statement is true or false
The minimum point on the average variable cost curve is called
A) the shutdown point. B) the break-even point. C) the loss-minimizing point. D) the point of diminishing returns.
The normal measurement of GDP overestimates economic well-being because it excludes
A) spending on health. B) leisure time. C) the effects of pollution. D) non-market production. E) unreported home renovations.