The income security program category for federal government outlays includes spending for:
a. Social Security.
b. Medicare.
c. Welfare.
d. Unemployment compensation.
e. All of these.
e
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The rate at which one input can be exchanged for another without altering output is called
A. the marginal rate of technical substitution. B. the slope of the total product curve. C. the law of diminishing returns of labor. D. the slope of the marginal product of labor.
If aggregate demand had grown faster than it did from 2009 to 2010, then the U.S. economy would have experienced
A. higher unemployment and higher inflation. B. lower unemployment and lower inflation. C. higher unemployment and lower inflation. D. lower unemployment and higher inflation.
If Happy Avocados, a ready-made guacamole manufacturer, purchases an avocado farm, this is an example of ________.
A) outsourcing B) backward integration C) divestiture D) forward integration
The supply curve of a depletable natural resource is usually
A. downward sloping because the resource runs out over time. B. upward sloping because more of the resource can be profitably extracted at higher prices. C. upward sloping because the price of the resource rises at the rate of inflation. D. vertical because the supply of the resource is fixed.