In the 1990s the United States' economy generated more than _______ million additional jobs.
A. 5
B. 10
C. 15
D. 20
D. 20
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If firms are producing an output greater than planned expenditures, these firms will cut back on production, which decreases GDP
Indicate whether the statement is true or false
The concept of Pareto optimality is a
A) utopian concept. B) useful concept because it guarantees economic equality. C) useful concept because it defines economic efficiency. D) useful concept that carefully balances a society's desires for equality and efficiency.
The cost of the resources used by domestic producer groups including the lobbying fees, propaganda, and legal restrictions, is collectively referred to as the cost of:
a. enforcement and implementation. b. rent seeking. c. retaliation. d. collective action.
If a hurricane were to wipe out the majority of the eastern seaboard in the United States, it would likely cause a:
A. short-run supply shock. B. long-run supply shock. C. long-run demand shock. D. short-run demand shock.