The emergence of English as the de facto world language has ________ a comparative advantage in the production of books, movies and popular music:

A. given English-speaking countries
B. given all countries
C. had no effect on which country has
D. given non-English-speaking countries


Answer: D

Economics

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"If Congress cuts income taxes, demand for output is likely to increase" is a ________ statement about ________ policy.

A. positive; fiscal B. positive; monetary C. normative; monetary D. normative; fiscal

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If the marginal propensity to save is 0.2, what is the expenditure multiplier?

a. 0.8 b. 1.2 c. 2 d. 5

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The economizing problem faced by a society is

A. to establish prices that are fair for both producers and consumers. B. a consequence of the fact that productive resources are scarce relative to economic wants. C. to achieve a more equitable distribution of income in the society. D. that product prices often rise more rapidly than incomes of consumers.

Economics