Suppose there has been an increase in investment. As a result, real GDP will ________ in the short run, and ________ in the long run
A) decrease; increase to its initial level B) increase; increase further
C) increase; decrease to its initial value D) decrease; decrease further
C
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Scarcity is a problem that will eventually disappear as technology advances
Indicate whether the statement is true or false
The principle of comparative advantage is associated with
a. restricting consumer choices. b. greater production at higher prices. c. specialization and exchange. d. comparing the efficiency of alternative tariffs.
Gross Domestic Product measures the market value of all intermediate goods and services produced in the world during a given period, usually a year
Indicate whether the statement is true or false
If you own 100 shares of preferred stock, how many regular votes would you get to cast at the next stockholders meeting?
A) 500 B) 100 C) 1 D) 0