Public versus private initiatives to expand canals and railroads in the United States:
a. featured a large percentage of government investment.
b. featured a small percentage of government investment.
c. were dominated by private investment.
d. were exclusively private due to "strict constructionism."
a. featured a large percentage of government investment.
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The assumption that population growth will lead to a fall in real GDP per person rate back to subsistence level is
A) accepted by all economists today. B) associated with Malthusians. C) part of the neoclassical school of growth theory. D) central to the new growth theory.
Foreign exchange rates are
A. price at which purchases and sales of foreign goods take place. B. movement of goods and services from one country to another. C. the price of one currency in terms of a second currency. D. differences between exports and imports.
A measure that allows us to compare the prices of consumer goods and services in the year 2000 that a household typically purchases to the prices of those goods and services the household purchased in the base year 1997 is
a. the GDP deflator b. the consumer price index c. the price level d. inflation e. the base measure
If employees lose jobs because their skills are obsolete, or their company has moved to another location, this is called:
frictional unemployment cyclical unemployment structural unemployment seasonal unemployment