Which of the following is a major import for the United States?
A) corn
B) soybeans
C) coal
D) fish
E) none of the above
D
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Because original ideas are likely to become known and used by others, without the inventor's knowledge or consent, ________
A) technology is the key driver of economic growth B) new ideas contribute little to economic growth C) we refer to ideas as rival D) technology is inherently exogenous
Refer to Figure 9.1. If the market is in equilibrium, the consumer surplus earned by the buyer of the 1st unit is ________
A) $5.00 B) $15.00 C) $22.50 D) $40.00
Unemployment is measured as
A. all teens and adults in the civilian labor force who are not working. B. all adults in the civilian labor force who are not working. C. all adults in the civilian labor force, regardless of whether or not they have been engaged in actively seeking employment, who do not have the job they want. D. all adults in the civilian labor force who are willing and able to work and who are actively looking for work, but have not found a job.
Thomas Robert Malthus believed
A. that population growth was good for the world. B. that food supplies would always be more than sufficient to feed the world's population. C. that population growth would eventually lead to an increase in the quality of life for everyone. D. that the world's population would eventually exceed the amount food supplies can support.