Economists have determined that there are four factors that seem to strongly affect a nation's rate of economic development. Which is NOT one of these four factors?
A. limiting the extent to which the government imposes trade barriers
B. establishing a system of property rights
C. supporting current industries and the jobs they provide instead of adopting new technology that brings disruptive social changes
D. developing an educated population
Answer: C
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An unusually warm winter shifts the
A) supply curve of gloves rightward. B) supply curve of gloves leftward. C) demand curve for gloves rightward. D) demand curve for gloves leftward.
If an improvement in the quality of education in the United States increases the productivity of labor, this will
a. increase aggregate demand and decrease aggregate supply. b. increase short-run aggregate supply and reduce aggregate demand. c. decrease aggregate demand and increase short-run aggregate supply. d. increase both long-run and short-run aggregate supply.
A French worker can produce either 4 barrels of wine or 16 shirts a week; and Italian worker can produce either 10 barrels of wine or 20 shirts a week.
A. After the countries begin to trade, one barrel of wine will cost between four and eight shirts. B. France has an absolute advantage in both wine and shirts. C. France will export shirts and import wine. D. France has an absolute advantage in making shirts.
Answer the following statement(s) true (T) or false (F)
1. If a government collects more taxes than it spends, there is a budget deficit. 2. Firms and households create the demand for loanable funds. 3. Both the supply and the demand curves of loanable funds are negatively sloped. 4. A low saving rate makes more money available for investment. 5. Early in the twenty-first century, it was common for people to get mortgages with no down payment and minimal documentation.