When the economy slows down:
A. firms contract their operations.
B. GDP growth is slowing or negative.
C. demand for workers decreases.
D. All of these are true.
Answer: D
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Capital deepening will occur as long as total saving is greater than depreciation
Indicate whether the statement is true or false
In the above figure, the competitive unregulated equilibrium is producing and consuming ________ vaccinations per year at a price of ________
A) 30 thousand; $40 B) 30 thousand; $30 C) 30 thousand; $20 D) 50 thousand; $30
The federal income tax is a progressive tax. Which of the following statements describes why this helps lower income inequality?
a. Rich households pay a lower percentage of their income in taxes compared to poor households. b. Rich households pay the same percentage of their income in taxes compared to poor households. c. Rich households pay a higher percentage of their income in taxes compared to poor households. d. Rich households pay an absolute higher amount of their income in taxes compared to poor households.
According to the Herfindahl-Hirschman Index, which is the more concentrated industry?
A. Industry X with an index of 2,400.
B. Industry Y with an index of 2,738.
C. Both industries have the same indices.
D. There is no way to determine the Herfindahl Indices of these industries with this data.