The per-worker production function has a ________ slope, indicating that increases in capital per hour worked ________ real GDP
A) positive; decrease B) negative; decrease C) positive; increase D) negative; increase
C
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How can technological advance result in creative destruction?
Please provide the best answer for the statement.
If you place a part of your summer earnings in a savings account, you are using money primarily as a:
A. medium of exchange. B. store of value. C. unit of account. D. standard of value.
What is NOT true about rational choice?
A) It is the same for all individuals. B) It can result in different decisions for different individuals. C) It involves comparing costs and benefits. D) It might turn out not to have been the best choice after the event. E) It is a choice that uses the available resources to best achieve the objective of the person making the choice.
In evaluating policy effectiveness, economists rely on:
A. positive analysis. B. normative analysis. C. both normative and positive analysis. D. Economists can never fully analyze any real-world policy effectiveness.