Which of the following is most important for the achievement of higher income levels and living standards?
a. production of additional goods and services that people value highly relative to the cost of their production
b. increases in government spending that create jobs
c. restriction of imports that expand employment in the protected industries
d. an increase in total employment
a. production of additional goods and services that people value highly relative to the cost of their production
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Consider two economies: A and B. The nominal interest rate is the same in both economies, but the rate of inflation is higher in economy B. Which of the following statements will then be true?
A) The real interest rate will be the same in both economies. B) The real interest rate will be higher in economy B. C) The real interest rate will be higher in economy A. D) Whether the real interest rate is higher in economy A or B will depend on the number of borrowers in both economies.
A technological change ________ and a change in the capital stock ________
A) shifts the productivity curve; shifts the productivity curve B) shifts the productivity curve; creates a movement along the productivity curve C) creates a movement along the productivity curve; shifts the productivity curve D) does not change the productivity curve; creates a movement along the productivity curve E) does not change the productivity curve; shifts the productivity curve
Which of the following is a consequence of extending the payback period of a student loan from 10 to 30 years?
A) higher monthly payments B) more interest paid over the life of the loan C) faster payoff of principal D) lower monthly payments initially, but higher monthly payments in the future
The destruction of manufacturing jobs and workers leaving their jobs to find better ones both contribute to structural unemployment
a. True b. False Indicate whether the statement is true or false