The development of complex algorithms that perform "brain work" in the future is likely to:
A. increase the number of jobs requiring little thought.
B. higher income equality.
C. increase overall employment.
D. lengthen the overall workweek.
Answer: A
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The curve that shows how the best affordable consumption bundle changes as the price of a good changes (holding the consumer's income, preferences and all other prices fixed) is called
A. a price-consumption curve. B. an individual demand curve. C. an income-consumption curve. D. a budget line.
Government intervention in agricultural markets in the U.S. began in the
A) 1920s. B) 1930s. C) 1950s. D) 1970s.
When economic growth occurs, the
A) economy moves along its production possibilities frontier. B) production possibilities frontier shifts outward. C) production possibilities frontier becomes steeper. D) production possibilities frontier shifts outward but no longer limits the amount that can be produced.
An indication that Insurance companies anticipate adverse selection is
a. they require a deductible b. they do not classify clients into different risk types according to their claim history c. they do not classify clients into different risk types according to pre-existing conditions d. they do not require a co-payment