Economic growth is
A) an increase in the per person real production in a nation.
B) an increase in stock market values.
C) an increase in real estate values.
D) an increase in the number of people employed in agriculture.
A
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If the wage rate is ________ the value of marginal product, a firm can increase its profit by ________
A) greater than; selling an extra unit of output B) less than; selling one less unit of output C) less than; hiring an extra worker D) less than; hiring one less worker
The gross public debt is the
A) amount of U.S. paper currency and coins in circulation. B) difference between current government expenditures and tax revenues. C) ratio of past deficits to past surpluses. D) total of all accumulated deficits and surpluses.
If U.S. residents want to buy more foreign bonds, then in the market for foreign-currency exchange the exchange rate
a. and the quantity of dollars traded rises. b. rises and the quantity of dollars traded falls. c. falls and the quantity of dollars traded rises. d. and the quantity of dollars traded falls.
If tax policies become less favorable, then
A. The AD curve will shift to the left. B. The AD curve will shift to the right. C. There will be a movement to the right along the AD curve. D. The AD curve will not be affected.