Which of the following is not a true statement concerning infant mortality in the United States?
a. Low birth weight infants have a better chance of survival in the U.S. than either Japan or Norway.
b. International comparisons of infant mortality rates are difficult to interpret due to different definitions of infant death.
c. Teenage pregnancy and illegitimacy are highly correlated with infant mortality.
d. Infant mortality rates are among the lowest in the developed world.
e. A primary cause of infant mortality is low birth weight.
D
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Consider the following simplified sequence of exchanges. A logger sells an oak tree to a sawmill owner for $60. The sawmill mills it, and sells the boards to a woodworker for $80
The woodworker makes an oak bookcase out of the boards, and sells it to a retailer for $300. The retailer then sells you the bookcase for $500. As a result, GDP increases by A) $200. B) $300. C) $440. D) $500. E) $940.
Macroeconomic forecasting is made easier due to the fact that
A) real GDP is variable about trend. B) the business cycle has a regular frequency. C) deviations from trend in real GDP are persistent. D) turning points are easy to predict.
Other things remaining unchanged, which of the following is a determinant of the quantity supplied of a good?
a. The cost of inputs used in production b. The price of the product c. The income levels of consumers d. The price expectations of producers e. The preferences of consumers
Measured as a share of the economy, the size of the trade sector (exports plus imports) of the United States has
a. been increasing since 1980, but it declined during 1960-1980.
b. been relatively constant during the last four decades.
c. increased by about 10 percent during the last four decades.
d. approximately doubled since 1980 and tripled since 1960.