Output per unit of input measures
A. Productivity.
B. The investment rate.
C. The inequality trap.
D. Per capita GDP.
Answer: A
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Which of the following correctly identifies the trade-off that a budget constraint represents?
A) The amount of one good that has to be given up to purchase an additional unit of the other good B) The optimum combination of goods that a consumer with a given income should purchase C) The maximum amount of two goods that a consumer can purchase given his income D) The amount of income that must be given up to obtain an additional unit of a good
An increase in the price of off-road vehicles will result in
A) a decrease in the supply of off-road vehicles. B) a larger quantity of off-road vehicles supplied. C) an increase in the demand for off-road vehicles. D) a smaller quantity of off-road vehicles supplied.
Rising inflation causes quantity demanded to decline, because ________
A) the central bank raises the nominal interest rate by more than the increase in expected inflation B) households and businesses are reluctant to spend when prices rise C) higher inflation causes the IS curve to shift to the left D) all of the above E) none of the above
Paying into a pension fund while you are earning wages and salaries is equivalent to
A. borrowing money. B. lending money. C. withdrawing from a savings account. D. paying off debt.