Marco’s country has advanced technology and the facilities necessary to produce a high volume of goods. Kiera’s country has the same advanced technology and very similar facilities, but the workers in her country produce more output. What is the most likely cause of this difference?
a. The workers in Marco’s country are more educated.
b. The workers in Kiera’s country are older.
c. The workers in Marco’s country are older.
d. The workers in Kiera’s country are more educated.
d. The workers in Kiera’s country are more educated.
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The expenditure multiplier arises because one person's additional expenditure becomes another person's additional income that will generate additional
A. cyclical unemployment. B. menu costs. C. expenditure. D. investment demand.
The broadly-defined money supply in the U.S., called M2, differs from M1 primarily in its inclusion of
A) bonds of all sorts held by the public. B) outstanding charge-account balances. C) savings deposits in financial institutions. D) Treasury bills held by the public. E) credit cards.
Producing where marginal revenue equals marginal cost is equivalent to producing where
A) total revenue is equal to total cost. B) total profit is maximized. C) average fixed cost is minimized. D) average total cost equals average revenue.
During the Great Depression, the unemployment rate rose to about
A. 15%. B. 25%. C. 40%. D. 50%.