One of the key factors that determine an economy’s real GDP is labor productivity, which is a measure of
A. output per hour of work.
B. labor force per hour.
C. input per hour worked.
D. total hours worked.
Answer: A
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Refer to Table 20.1. The income tax in Oceania is
A) progressive. B) regressive. C) proportional. D) a flat tax.
An example of a capital resource is: a. stock in a computer software company
b. a bond issued by a company selling electric generators. c. a dump truck. d. an employee of a moving company.
Which of the following statements is true for the average individual investor interested in stocks?
a. Trying to pick the stocks that will gain a great deal in the future is a risky and unlikely way to become rich. b. The majority of individual financial investors outguess the market better than professionals. c. Stocks are both low risk and low return but have high liquidity. d. Investing in stocks, bonds, or gold will (on average) provide about the same rate of return in a fiscal year.
A medium of exchange is
A) anything that is generally accepted in exchange for goods and services. B) a common measurement in which relative values are expressed. C) an item's ability to hold value over time. D) the exchange of goods and services for other goods and services. E) both a and d