Rapid economic growth has increased the economic well-being of U.S. citizens because
a. people are now earning higher incomes while goods and services are cheaper
b. the dollar is worth now more than in the past
c. the output of goods and services has risen faster than the population
d. the population is now living and working longer
e. the population has increased while production has decreased
C
You might also like to view...
The long-run aggregate supply curve is horizontal
Indicate whether the statement is true or false
The equilibrium quantity will decrease and the price might rise, fall, or stay the same when the
A) demand and the supply of a good both increase. B) demand for a good increases and the supply of it decreases. C) demand for a good decreases and the supply of it increases. D) demand and the supply of a good both decrease.
A rent ceiling set above the equilibrium rent has no effect
Indicate whether the statement is true or false
Explain why in situations where the Coase Theorem applies, bargaining power does not influence whether the efficient outcome is reached, but affects the distribution of gains
What will be an ideal response?