In the absence of productivity growth, in a steady-state economy,
A. output per worker remains constant over time, but consumption per worker grows over time.
B. output per worker and consumption per worker both grow over time.
C. output per worker and consumption per worker remain constant over time.
D. output per worker grows over time, but consumption per worker remains constant over time.
Answer: C
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Psychological research shows that choices that involve ___________ are likely to turn out worse than those involving __________.
A. complicated information; simple information B. simple information; complicated information C. low payoffs; high payoffs D. high payoffs; low payoffs
A good that is most likely to be in the producer price index is:
A. light trucks. B. gasoline. C. passenger cars. D. All of these are in the PPI.
A trade deficit involves:
a. net flows of goods from foreign countries to the domestic government. b. net money flows from the foreign firms to the domestic government. c. net money flows from the domestic firms to the domestic government. d. net money flows from the foreign firms to the domestic firms. e. net flows of goods from foreign countries to the domestic firms.
Which of the following most likely includes unreported income from illegal sources?
a. underground economy b. nonmarket transactions c. externalities d. leisure