U.S. productivity growth has rebounded since 1995 largely as a result of:
A. discoveries of new natural resources.
B. advances in information and Communication Technology (ICT).
C. increases in human capital.
D. increased political stability.
Answer: B
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A decrease in the budget deficit will have a:
A. less positive effect on income when crowding out is weak. B. more negative effect on income when crowding out is strong. C. less negative effect on income when crowding out is strong. D. more positive effect on income when crowding out is weak.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4Refer to Figure 2.4. The economy moves from Point E to Point B. This could be explained by
A. a change in society's preferences for hybrid cars versus motorcycles. B. an increase in economic growth. C. an increase in unemployment. D. a reduction in unemployment.
Refer to Table 4-12. The equations above describe the demand and supply for Bubba's Fried Jellybeans. The equilibrium price and quantity for Bubba's Fried Jellybeans are $40 and 5 thousand units. What is the value of consumer surplus?
A) $5 thousand B) $12.5 thousand C) $25 thousand D) $37.5 thousand
The above figure depicts the Edgeworth box for two individuals, Al and Bruce. If the endowment is at point a, and trade is possible, which of the following points are possible equilibria?
A) a and b B) a and c C) b and d D) c and d