In general, educating workers:
A. makes them more productive.
B. does not affect overall economic growth.
C. contributes little to other capabilities.
D. All of these statements are true.
A. makes them more productive.
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Which of the following are equal to one another?
I. aggregate production II. aggregate expenditure III. aggregate income A) I equals II, but not III. B) I equals III, but not II. C) II equals III, but not I. D) I equals II equals III.
Fiat money has value because: a. it is backed by gold
b. it is divisible. c. it can be used to buy things. d. it can be exchanged for a commodity backing it.
Many saltwater fish species are currently being overexploited. This is an example of
a. efficiency b. the tragedy of the commons c. Pareto optimality d. a negative externality e. a positive externality
An increase in the money supply
a. lowers the interest rate, causing a decrease in investment and an increase in GDP. b. lowers the interest rate, causing an increase in investment and a decrease in GDP. c. lowers the interest rate, causing an increase in investment and an increase in GDP. d. raises the interest rate, causing an increase in investment and an increase in GDP. e. raises the interest rate, causing a decrease in investment and a decrease in GDP.