Arguments that economic growth must be constrained by environmental problems and limits of natural resources ignore the fact that economic growth can:
A. occur with only benefits and no economic costs.
B. take the form of improved quality as well as increased quantity.
C. increase both average labor productivity and the share of population employed.
D. be measured in both nominal and real terms.
Answer: B
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In the market for reserves, if the federal funds rate is between the discount rate and the interest rate paid on excess reserves, an increase in the reserve requirement ________ the ________ for reserves and causes the federal funds interest rate to
rise, everything else held constant. A) decreases; demand B) increases; demand C) increases; supply D) decreases; supply
Eddys' Electronics found that instead of producing a dvd player and a gaming system separately, it is cheaper to incorporate dvd playing capabilities in their new version of the gaming system. Eddy's is taking advantage of
a. Economies of Scale b. Learning curve c. Economies of Scope d. Decreasing marginal costs
The growth rate of real GDP per capita is best captured by subtracting the percentage changes in:
A. both prices and population from the nominal GDP growth rate. B. population from the nominal GDP growth rate, while dividing it by the inflation rate in order to hold prices constant. C. prices from the nominal GDP growth rate and not the population growth. D. population from the nominal GDP growth rate and not the percentage changes in prices.
Kevin has lost his job in an automobile plant because the company switched to robots for its welding step in the assembly line. Kevin plans to go to technical school to learn how to repair microcomputers. The type of unemployment Kevin is faced with is:
A. Cyclical B. Frictional C. Structural D. Natural