Countries that have high rates of savings also have
A) high rates of investment.
B) low rates of investment.
C) stock market bubbles.
D) low rates of growth.
A
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If people buy less chewing gum at every price when their incomes fall, then:
a. chewing gum is a normal good. b. the demand for chewing gum is positively sloped. c. demand for chewing gum has increased. d. the price of chewing gum has increased. e. there has been a decrease in population that changed demand.
Minimum-wage laws are one reason there is always some unemployment in the U.S. economy
a. True b. False Indicate whether the statement is true or false
The opportunity cost of a movement from point N to J would
A. be the lost production of some capital goods.
B. be the lost production of some consumer goods.
C. be slower economic growth in the future.
D. not involve any sacrifice of either capital or consumer goods.
Refer to the information provided in Figure 28.1 below to answer the question(s) that follow.
Figure 28.1Refer to Figure 28.1. At wage rate $6, there is a ________ of labor equal to ________ million people.
A. shortage; 180 B. surplus; 180 C. surplus; 60 D. shortage; 60