Economists measure the output of an economy by

Fill in the blank(s) with the appropriate word(s).


Ans: Gross Domestic Product (GDP)

Economics

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If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries,

A) we will move down along the long-run aggregate supply curve. B) we will move up along the long-run aggregate supply curve. C) the long-run aggregate supply curve will shift to the right. D) the long-run aggregate supply curve will shift to the left.

Economics

Increases in ________ typically lead to decreases in consumption

A) the interest rate B) disposable income C) autonomous consumption D) all of the above E) none of the above

Economics

Historians generally agree that the railroads

(a) were absolutely essential for industrial growth in the 19th century. (b) were an indispensable "leading sector." (c) were our first "giant" enterprises. (d) provided a "social saving" of 90% or more.

Economics

If a firm has established monitoring devices that have a 50% chance of detecting shirking, and an employee gains $5,000 from shirking, the employer can deter shirking by having employees post a bond equal to

A) $2,500. B) $5,000. C) $10,000. D) $50,000.

Economics