Most economists feel that creating a completely equal income for everyone would ______ the incentive to work.
a. increase
b. decrease
c. have little effect on
d. externalize
b. decrease
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A "Jumbo" CD is one in excess of
A) $1,000. B) $10,000. C) $50,000. D) $100,000.
Negative output gap indicates that
A) the actual real GDP is above natural real GDP. B) the actual real GDP is below natural real GDP. C) nominal GDP is above real GDP. D) nominal GDP is below real GDP.
Marginal product is defined as
a. the increase in revenue that occurs when an additional unit of a resource is added b. the increase in output that occurs when all resources are increased by the same proportion c. the increase in output that occurs when an additional unit of a resource is added, holding all other resources constant d. the amount of additional resources needed to increase output by one unit when all resources are increased by the same amount e. the amount of additional money needed to increase output by one unit when all resources are held constant
Protectionism through _________ implementation makes imports more expensive for consumers and discourages imports.
a. quote b. tariff c. nontariff barrier d. standards