By a leading economic indicator, economists mean:
a. an indicator of future economic activity
b. an indicator that reflects economic fluctuations as they occur.
c. a highly accurate indicator that is easily measured.
d. an indicator that predicts the level of inflation in an economy.
e. any variable that follows changes in economic activity.
a
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Describe the three pillars of productivity growth.
What will be an ideal response?
Assume that empirical evidence shows a difference in mean earnings between two groups, say, majority and minority workers. What conclusion may be drawn?
a. The group with the lower earnings is less productive. b. The group with the lower earnings is being discriminated against. c. Any of the above statements could, either partially or entirely, explain the difference in the mean earnings. d. The group with the higher earnings has a larger quantity of human capital.
What stage of the business cycle would be most appropriate to describe the years from 1929 to 1933?
(A) A contraction (B) A peak (C) An expansion (D) A trough
Suppose that you borrow $10,000 for two years, and at the end of the second year, you must repay $11,664. The interest rate is
A. 8.0 percent. B. 7.0 percent. C. 9.0 percent. D. 16.7 percent.