Increases in productivity are caused by
a. better education and training of the labor force.
b. higher levels of literacy.
c. improvements in technology.
d. All of the above are correct.
d
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One of the productive resources is capital. Capital includes
A) money borrowed from a bank. B) a company's stocks and bonds. C) tools, buildings, and machine tools. D) toys, t-shirts, CD players, and pencils. E) money in a savings account at a bank.
Refer to the scenario above. In this case, how much should Tom pay for a used iPhone?
A) $80 B) $40 C) $60 D) $0
The balance of payments improves
A) when there is an exchange rate appreciation. B) when there is an exchange rate depreciation. C) when the interest rate rises. D) never.
If the government decreases the income tax rate, then:
A. GDP will decrease. B. aggregate demand will shift left. C. aggregate demand will shift right. D. aggregate supply curve with shift to the right.