The linkage between high productivity and high earnings is vitally important because
a. it provides individuals with a strong incentive to develop skills and engage in activities that others value highly.
b. high productivity (a large output per hour worked) is the key to high living standards.
c. it brings the self-interest of individuals into harmony with economic progress.
d. all of the above are true.
D
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Short-term bonds are generally
a. less risky than long-term bonds and so they feature higher interest rates. b. less risky than long-term bonds and so they feature lower interest rates. c. more risky than long-term bonds and so they feature higher interest rates. d. more risky than long-term bonds and so they feature lower interest rates.
The U.N.'s Millennium Aid Goal is for nations to increase their foreign aid levels to 0.7 percent of donor country GDP.
Answer the following statement true (T) or false (F)
The figure below shows the supply and demand curves for jeans in Smallville.
The equilibrium price will NOT lead to the largest possible total economic surplus if:
A. the market for jeans is perfectly competitive. B. the production of jeans generates air pollution. C. there are diminishing returns in the production of jeans. D. jeans are purchased by consumers with reservation prices greater than $40.
The measurement of industry concentration which calculates the percentage of all sales contributed by a specific number of leading firms is called the
A) Herfindahl-Hirschman Index. B) concentration ratio. C) producer price index. D) payoff matrix.