There were large decreases in productivity during
A. the 1990s and early 2000s.
B. the late 1980s.
C. the late 1970s and the 2010s.
D. the 1950s and 1960s.
Answer: C
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Suppose Paraguay can produce 12 wheat or 3 corn. Suppose Bolivia can produce 4 wheat or 2 corn. Suppose opportunity costs are constant. Given these production possibilities,
A) Paraguay has a comparative advantage in wheat. B) Paraguay has a comparative advantage in corn. C) Paraguay has a comparative advantage in both goods. D) Paraguay has an absolute advantage in neither good.
If the MPC in the U.S. was low, it would increase the value of the multiplier
a. True b. False Indicate whether the statement is true or false
In a debate on the state of the economy Senator X pointed out that the unemployment rates for teenagers, blacks, and hispanics had increased over the last year, while Senator Y stated that the unemployment rate in the United States was at its lowest level in more than 30 years. In this example, aggregate data is being used by:
A. both senators. B. Senator X. C. neither senators. D. Senator Y.
Economists should consider? ________ when evaluating options.
A) only explicit costs and benefits
B) only implicit costs and benefits
C) both explicit and implicit costs and benefits
D) neither explicit nor implicit costs and benefits