Productivity growth is usually an indicator of
A. future increases in the unemployment rate.
B. the increase in the health and prosperity of the economy.
C. the possibility of inflation.
D. the decline in the health and prosperity of the economy.
Answer: B
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Suppose that you have received $300 as a birthday gift. You can spend it today or you can put the money in a bank account for a year and earn 5 percent interest. The opportunity cost of spending the money today, in terms of what you could have after one year, is
a. $0. b. $15. c. $305. d. $315.
The benefits of economic growth, particularly as measured by real GDP per capita, include
What will be an ideal response?
Country A can produce both wheat and oranges using fewer resources than country B. Which of the following statements is true?
A. Country A has a comparative advantage in producing both goods. B. Country A has an absolute advantage in producing both goods. C. Country B has no comparative advantage. D. Country B must have an absolute advantage in producing one of the goods.
When a corporation uses profits to pay for the purchase of new capital equipment, this is known as
A. dividend. B. a coupon payment. C. reinvestment. D. collusion.