The fact that the United States has grown _______ per year for the last hundred years is ______________.
A. 1 %; alarming and needs to be altered
B. 2 %; alarming and needs to be altered
C. 2 %; impressive and hopefully will continue
D. 3 %; impressive and hopefully will continue
C. 2 %; impressive and hopefully will continue
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When jobs are easy to find, wage increases are frequently given, and businesses are doing well, the economy is most likely in a(n):
A. expansion. B. surplus. C. depression. D. recession.
The Industrial Revolution in England in large was the result of
A) growth in human capital. B) technological innovations encouraged by the patent system. C) population growth. D) technological innovations that were financed mainly by government spending.
Under a negative income tax program,
a. the government guarantees a minimum level of family income. b. a family must pay income taxes on its welfare check. c. a family receives a stated amount of money from the government plus its members can keep all income earned through work. d. the government reduces the welfare payment by any income earned through work. e. a family's income is lower if its members work.
Comparing firms in perfectly competitive markets to monopoly firms, which produces more output?