Sustained economic growth in the U.S. has been primarily a product of which of the following factors?
(a) War and exploitation of natural resources
(b) Capital accumulation, increases in capital and labor productivity,
and technological advancements
(c) Restricted trade
(d) Government policies and market interventions
(b)
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U.S. potential GDP is the value of the goods and services produced in the United States ________
A. in the reference base year B. when the U.S. unemployment rate is zero C. when the U.S. economy is at full employment D. when the U.S. inflation rate is zero
When a domestic country exports goods to and imports goods from a foreign country, in the short run domestic:
A) producers in the exporting industry may be worse off. B) consumers of the imported good may be worse off. C) consumers of the exported good may be better off. D) producers in the importing industry may be worse off.
Which of the following would not be hurt by unanticipated inflation?
A. Those living on fixed nominal incomes B. Those who find inflation rising more rapidly than their nominal incomes C. Those who have money savings D. Those who became debtors when inflation was lower
The Walt Disney Company uses cost-plus pricing to determine the prices it charges for admission and rides at Disneyland and Walt Disney World
Indicate whether the statement is true or false