During democratic presidential administration since 1948, economic growth was highest in ________ year of the administration?
A) first
B) second
C) third
D) fourth
B
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One effect of immigration is to:
A. Decrease a nation's total output and productive capacity B. Make capital resources less scarce relative to labor C. Decrease economic efficiency on a worldwide basis D. Increase the wage bill in a nation experiencing immigration if the demand for labor is elastic
Planned expenditures equal real disposable income
A) at every point on the saving function. B) at every point on the consumption function. C) at every point on the 45-degree line. D) when saving equals zero.
The average total cost curves for plants A, B, C, and D are shown in the above figure. The plant size that is the most economically efficient
A) is plant A. B) is plant B. C) is plant C. D) depends on the desired level of output.
Two alternative measures of the overall level of prices are
a. the inflation rate and the consumer price index. b. the inflation rate and the GDP deflator. c. the GDP deflator and the consumer price index. d. the cost of living index and nominal GDP.