The Trump administration hopes that its program of infrastructure spending might expand employment by luring some prime-age workers back into the labor force. This would ________ the employment-population ratio, which would increase ________
A) increase; growth in labor productivity
B) increase; the growth rate of hours worked
C) decrease; growth in labor productivity
D) decrease; the growth rate of hours worked
Answer: B
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Which of the following is a result of scarcity?
a. Costs are incurred in making choices. b. We attempt to utilize our resources as efficiently as possible. c. We must make choices between production possibilities. d. We are unable to produce all we would like to produce. e. All of these.
In dollar value, the nominal GDP in the United States is
a. between 5 and 6 billion. b. between 8 and 9 billion. c. between 8 and 10 trillion. d. between 13 and 15 trillion.
Which is true of a single price monopoly firm?
A. Its supply curve is equal to its marginal cost function. B. It creates more welfare loss to society than a perfect price discriminating monopolist. C. An increased profits tax will lower the quantity the firm will produce. D. Its shutdown point is where ATC = price.
From fiscal year 2012 to fiscal year 2013 China's budget deficit rose 50%. Other things the same, we would expect this to have
a. decreased interest rates and investment. b. decreased interest rates and increased investment. c. increased interest rates and investment. d. increased interest rates and decreased investment.