Suppose an economy experiences an increase in its saving rate. The higher saving rate leads to a higher growth rate of productivity
a. in the short run, but not in the long run.
b. in the long run, but not in the short run.
c. in both the short run and the long run.
d. in neither the short run nor the long run.
a
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If the bidders at a first-price auction have true values of $78, $72, $66 and $65, the item will sell for
a. Just above $78 b. Just under $72 c. Just above $72 d. Just above $66
Which of the following is not counted as income when the official poverty rate is calculated?
a. Medicaid benefits. b. dividends derived from the ownership of stock. c. earnings derived from a part-time job. d. money income derived from transfer payments.
Phrases such as "unbreakable bottle," "non-shrink," "extra spicy," and "nonstick surface" are generally used in advertisements for products sold in perfectly competitive markets
a. True b. False Indicate whether the statement is true or false
The political philosophy that views the redistribution of income as a form of social insurance is
a. utilitarianism b. liberalism c. libertarianism d. welfarism