Which of the following is the term used to describe the expansion of a country's per capita real GDP?
A) change in factor incomes B) change in the labor force
C) technological change D) economic growth
D
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Buying a house during a recession may be a good idea if your job is secure because the Federal Reserve often
A) raises interest rates during recessions. B) lowers interest rates during recessions. C) sells Treasury bills to help the housing market. D) lowers income taxes during recessions.
If two groups disagree about a policy, a smaller group that experiences higher benefits per person can be:
A. the one less likely to get its way. B. as successful as a larger group with smaller benefits per person, but typically not more. C. more difficult to bargain due to the small size of the group. D. the one more likely to get its way.
Assuming everything else stays the same, an increase in the price of smartphones will __________ of smartphones.
a) increase the supply b) increase the quantity supplied c) decrease the quantity supplied d) decrease the supply
What is the opportuntiy cost of producing the fourth unit of capital goods?
What will be an ideal response?