Which of the following would be consistent with a decline in labor productivity?
a. Faster growth in capital formation
b. Enhanced worker quality
c. Decreased manufacturing production
d. High federal government budget surpluses
c
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In the above figure, the movement from point B to point A might be the result of
A) an increase in government expenditures because of a war. B) an increase in government expenditures because of increases in education expenditures. C) an increase in the demand for manufacturing goods because of new technology. D) a fall in the price level.
Refer to Table 7-6. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Morocco consume?
A) 60 B) 70 C) 90 D) 120
Total planned expenditure (equals income) is 13,500, autonomous consumption expenditure is 600, the marginal propensity to consume is 0.8, government purchases are 2,700, taxes are 2,500 and planned investment spending is 2,900
Net exports is ________. A) 3,840 B) negative 1,500 C) negative 1,380 D) negative 1,340 E) 2,100
Economic theory has traditionally focused on optimality in decision-making
a. True b. False Indicate whether the statement is true or false