There is no relationship between a country's productivity and its standard of living.
Indicate whether the statement is true or false.
Ans: False.
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If Bob in Texas buys bonbons made in France for $25, and the French chocolatier buys stock in IBM for $25, then the French net exports:
A. and net capital outflow are both zero. B. and net capital outflow both equal $25. C. is zero and net capital outflow is $25. D. equals $25 and net capital outflow is zero.
In many communities across the country it is very difficult for firms to hire sufficient numbers of entry level workers. If firms do not wish to raise money wages, what else might they do to attract workers?
The slope of a production possibility frontier shows the _____
a. total cost of producing a good b. opportunity cost of expanding production of one good c. price of the good produced along the horizontal axis d. total resources available in the economy
Oil is considered:
A. technology. B. physical capital. C. a renewable resource. D. a nonrenewable resource.