According to economists, one of the signs of an unhealthy economy is a(n)
A. rising labor productivity.
B. increasing real GDP.
C. declining real GDP.
D. declining unemployment.
Answer: C
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If economists forecast an increase in aggregate expenditure, which of the following is likely to occur?
A) GDP will fall. B) Wages will fall. C) Inventories will rise. D) GDP will rise.
The Federal Reserve uses the federal funds rate as an operating target because
A) it is an excellent indicator of the economy's underlying inflation rate. B) it is very sensitive to bank reserve level changes. C) it is determined by the Treasury. D) the Fed sets the rate directly.
Long-run economic growth is the process by which productivity increases
A) the employment rate. B) the average standard of living. C) the size of the labor force. D) federal tax revenues.
Refer to the graph shown. A firm that produces 900 units of output using the plant size associated with SATC3 minimizes:
A. both long-run and short-run average total cost. B. neither long-run nor short-run average total cost. C. long-run average total cost only. D. short-run average total cost only.