An increase in population growth in a country
A) always causes an increase in labor resources.
B) may not necessarily cause an increase in per capita real GDP.
C) may not cause an increase in labor resources in rich countries because employers will cut down on the number of hours required of workers.
D) will always cause an increase in per capita real GDP.
B
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Suppose the population of a fictional economy falls into the following categories: 320 are employed full time; 110 are employed part time; 20 are unemployed but are actively looking for employment; 50 are unemployed and are not actively looking for
employment. The official unemployment rate as calculated by the BLS would be A) 4.4%. B) 5.9%. C) 14.0%. D) 28.9%.
If supply and demand analysis is a measure of how, then elasticity is a measure of:
A. how much. B. when. C. why. D. how quickly.
The idea behind comparative advantage reflects the possibility that one party a. may be able to produce something relatively more efficiently than another. b. may be able to produce something at a lower opportunity cost than another. c. may be able to produce something more cheaply than another
d. all of the above
Most business cycle theories are
A. endogenous. B. exogenous. C. both endogenous and exogenous. D. neither exogenous nor endogenous.