Contractionary fiscal policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) lower; lower B) lower; higher C) higher; higher D) higher; lower
A
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One important role for government as referee is in defining and enforcing property rights.
Answer the following statement true (T) or false (F)
The more times a worker performs a particular task, the more proficient the worker becomes at that task. This source of productivity increase is called
A) repetition. B) specialization. C) continuity. D) innovation.
Between 1810 and 1860, the value of slaves in the United States
a. nearly doubled. b. tripled. c. increased nearly fourfold. d. increased nearly tenfold.
Bill created a new software program he is willing to sell for $200 . He sells his first copy and enjoys a producer surplus of $150 . What is the price paid for the software?
a. $50. b. $150. c. $200. d. $350.