Technological progress is one of the mechanisms by which economies can grow.
Answer the following statement true (T) or false (F)
True
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Other things remaining the same, when a fall in the price of one good is followed by an increase in the demand for another good, both goods are said to be:
a. inferior goods. b. substitute goods. c. Giffen goods. d. public goods. e. complementary goods.
The premise of Head Start is that
A. early childhood education can make a substantial difference in the future lives of children. B. poor parents aren't very good parents. C. day care for the poor will allow the poor to make a better living. D. B) and C)
Suppose the following information describes the economy:Consumption8000Investment1,000Government purchases1,000Net exports0Government transfers and interest payments500Government tax collections1,700Private saving equals ________; public saving equals ________; national saving equals ________.
A. 1,000; 800; 1,000 B. 800; 200; 600 C. 1,500; 700; 2,700 D. 800; 200; 1,000
Refer to the information provided in Figure 23.9 below to answer the question(s) that follow.
Figure 23.9Refer to Figure 23.9. Equilibrium output equals
A. 100. B. 150. C. 200. D. 300.