Which of the following economic functions does the U.S. government perform?
A. collects taxes
B. provides services
C. issues regulations
D. The U.S. government performs all of these tasks
D. The U.S. government performs all of these tasks
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Total utility
A. diminishes as the quantity consumed of a good increases. B. increases as long as more goods are acquired. C. increases as long as marginal utility increases. D. increases as long as marginal utility is positive. E. diminishes as consumption of some good rises.
If there is an improvement in technology that affects only Aggregate Supply and a nation's wealth falls due to sagging stock market, then:
a. Aggregate demand rises, and aggregate supply falls. b. Aggregate demand and aggregate supply rise. c. Aggregate demand and aggregate supply fall. d. Neither aggregate demand nor aggregate supply change. e. Aggregate demand falls, and aggregate supply rises.
Which would help resolve structural stagnation?
A. Productivity rises B. Productivity falls C. Domestic exchange rates rise D. Domestic wages rise
The term "other things equal" means that:
A. the associated statement is normative. B. many variables affect the variable under consideration. C. a number of relevant variables are assumed to be constant. D. when variable X increases so does related variable Y.