Long-run economic growth is the process by which productivity increases
A) the employment rate.
B) the average standard of living.
C) the size of the labor force.
D) federal tax revenues.
B
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Saving is necessary for production because
a. more roundabout production is better b. less roundabout production is better c. production takes time d. production is expensive e. production requires labor
Refer to the following figure. When price is $15 and quantity demanded is 1,000, what is the point elasticity of demand?
A. -3 B. -2/3 C. -1/3 D. -1 E. -5
The term "induced taxes" refers to...
What will be an ideal response?
What has been the effect of the outmigration of people from farming and the consolidation of smaller farms into larger ones on net farm income per farm household?
A. It is now far greater than nonfarm income B. It is now significantly less than nonfarm income C. It has decreased relative to nonfarm incomes D. It has increased relative to nonfarm incomes