If we include environmental degradation and natural resource depletion in GDP, then:
a. GDP would increase.
b. GDP would decrease.
c. GDP would not change.
d. the change is impossible to determine.
b
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Refer to the scenario above. If they are the only bidders in the auction, Bill will continue to bid as long as bidding is below ________
A) $420 B) $210 C) $500 D) $625
Which of the following statements is true?
A. Comparative advantage requires absolute advantage. B. Absolute advantage implies comparative advantage. C. Comparative advantage does not require absolute advantage. D. Absolute advantage requires comparative advantage.
In 11th century Europe, the central economic decisions were made by:
A. the church. B. tradition and the lord of the manor. C. central governments. D. the nation-state.
If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries
A) the long-run aggregate supply curve will shift to the right. B) the long-run aggregate supply curve will shift to the left. C) we will move up along the long-run aggregate supply curve. D) we will move down along the long-run aggregate supply curve.