It makes sense to measure relative costs in terms of leisure time
A) because leisure time is of equal value to everyone.
B) because leisure time is the ultimate good.
C) only if leisure time is of equal value to everyone.
D) only in societies with labor-saving technologies.
C
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In the above figure, what could cause the shift of aggregate demand fromAD1 to AD2?
A) depletion of raw materials B) an increase in international trade barriers C) a decrease in consumer confidence D) an increase in input prices
Which of the following policies would not prevent the Social Security trust fund from running out of assets?
A) Reduce promised benefits B) Reduce taxes C) Increase taxes D) Earn a higher rate of return
Economic rent refers to profit derived from owning an apartment complex
a. True b. False Indicate whether the statement is true or false
Compare two economies A and B that start out with identical production possibilities curves. Economy A chooses an efficient point with 6 consumption goods and 3 capital goods, while economy B also chooses an efficient point, but with 4 consumption goods and 5 capital goods. In the future we can predict:
A. economy A will operate inefficiently. B. economy B will operate inefficiently. C. economy A and economy B will grow equally fast. D. economy B will grow faster than economy A.