Bonnie volunteers to help make floral arrangements at a flower shop. She is an example of
A. human capital.
B. labor.
C. entrepreneurial ability.
D. physical capital.
Answer: B
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The theory that suggests that our unlimited wants will lead to perpetual economic growth is the
A) classical growth theory. B) old growth theory. C) sustained growth theory. D) Malthusian growth theory. E) new growth theory.
The NAIRU:
A. is difficult to measure. B. can change over time. C. occurs at the economy's level of potential output. D. All of these statements are true.
Suppose the official unemployment rate is 10 percent. We can conclude without question that:
a. one of every 10 people in the civilian labor force is currently unemployed. b. the same 10 percent of the people in the economy were out of work for the entire year. c. every person in the civilian labor force was out of work for 10 percent of the year. d. the same 10 percent of the people in the civilian labor force were out of work for the entire year.
According to the shortsightedness effect, politicians tend to favor projects with:
A. short-run benefits and short-run costs. B. short-run benefits and long-run costs. C. long-run benefits and short-run costs. D. long-run benefits and long-run costs.