One person's use of common resources does not reduce the enjoyment other people receive from the resource
a. True
b. False
Indicate whether the statement is true or false
False
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The term capital in economic theory refers to
A) any privately owned resource. B) bonds, stocks, and similar financial assets. C) money available for lending or spending. D) produced goods used to produce future goods. E) savings out of income.
When poverty is defined by an absolute real income level, what will happen to the poverty rate if income per capita in a country continues to grow?
A) The poverty rate will increase forever. B) The poverty rate will eventually be zero. C) The poverty rate will increase and then decrease. D) The poverty rate will never change.
If GDP grows more rapidly than population for a particular country over a period of time, then we can determine that
A. GDP must rise at a slower rate in the future. B. GDP per capita has increased. C. All citizens of this country are better off. D. Real GDP has decreased.
An increase in expected future income will:
A. increase aggregate supply. B. decrease aggregate demand and aggregate supply. C. increase aggregate demand and aggregate supply. D. increase aggregate demand.