From 2000 to 2010, the public sector share of total output
A. Trended up for state and local governments and down for the federal government.
B. Trended up for state and local governments and up for the federal government.
C. Remained stable for the federal government but trended up for state and local governments.
D. Remained stable for state and local governments but trended up for the federal government.
Answer: B
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All the production points that lie above the total product curve are inefficient
Indicate whether the statement is true or false
Factors that can cause the supply curve for bonds to shift to the right include
A) an expansion in overall economic activity. B) a decrease in expected inflation. C) a decrease in government deficits. D) a business cycle recession.
If the GDP price index rises from 100 to 110 to 115 over three consecutive years, it can be concluded that the inflation rate is decreasing
a. True b. False Indicate whether the statement is true or false
Which of the following factors of production is likely to be most productive?
a. A certified doctor working in a well-equipped hospital b. A medical student working as a volunteer in a rural health clinic c. A trained nurse without access to the latest medical technology d. A knowledgeable chemist without a degree in medical sciences e. A specialist doctor working in a hospital with poor infrastructure