Which of the following is NOT a benefit of economic growth?
A. urban congestion
B. improved health
C. reduction in illiteracy
D. longer lives
Answer: A
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The tangent at point A on a curve has a positive slope. Therefore, the curve has a
A. positive slope at all points. B. positive slope at point A. C. negative slope at all points. D. negative slope at point A.
A skilled worker is an example of:
a. unproductive resources. b. land resources. c. labor resources. d. capital resources. e. both labor and capital resources.
Which of the following is most important for the achievement of higher income levels and living standards?
a. production of additional goods and services that people value highly relative to the cost of their production b. increases in government spending that create jobs c. restriction of imports that expand employment in the protected industries d. an increase in total employment
Which of the following is not held constant along a given demand curve for a good?
A. The price of substitute goods. B. Consumer's income. C. Price of the good itself (own price). D. Consumer tastes.