If a nation has full employment, it is in the:
a. Keynesian range of the aggregate supply curve.
b. Intermediate range of the aggregate supply curve.
c. Twilight zone of the aggregate supply curve.
d. Classical range of the aggregate supply curve.
e. Gibson-Paradox range of the aggregate supply curve.
.D
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Marginal utility is a measure
a. of total utility derived from consuming a given amount of a good b. of the total utility gained from consuming an extra unit of a good c. computed by dividing total utility by the amount of a good consumed d. determined by production conditions in a market e. of the cost associated with consuming one more unit of a good
The tax cuts passed during the Reagan administration were designed primarily to: a. boost savings among consumers
b. shift the aggregate demand curve rightward. c. reduce the balance-of-payments deficit. d. increase the supply of productive resources. e. increase the tax base and include more tax payers.
In the context of technology transfer, light green technologies refer to
a. innovations that directly impact the environment b. technologies that indirectly affect the environment c. toxic chemical use substitution d. none of the above
Why do political instability and insecure property rights retard economic growth?
a. Fear that private property will be confiscated substantially reduces the incentive to invest and create wealth. b. When property rights are insecure, foreign investors will be reluctant to invest in the country. c. Savings will tend to flow out of a country if individuals fear their property is insecure. d. All of the above are correct.