Since the early 1960s, the percentage of Americans who are obese;
a. has decreases due to the increased emphasis on physical fitness
b. has decreased due to the increased emphasis of healthy diets
c. has increased by more than double
d. both a. and b.
Answer: c. has increased by more than double
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Assuming all else equal, a decrease in the real interest rate will cause:
A) an upward movement along the credit supply curve. B) a downward movement along the credit supply curve. C) the credit supply curve to shift to the right. D) the credit supply curve to shift to the left.
If a natural disaster destroys some of the capital stock, then the classical model predicts
a. labor demand, real wages, and output will fall. b. labor demand and real wages will rise, output will fall. c. the labor market remains unchanged but output falls. d. None of the above
In the 1960s, the lyrics of a rock song asked, "Did you ever have to make up your mind to say yes to one and leave the others behind?" What economic principle was demonstrated in the song? Explain
All else constant, if a nation's potential output doubles in 36 years, its average annual growth rate is
A. approximately 1% B. approximately 2% C. approximately 3% D. approximately 4%