An increase in a country's capital stock relative to its work force is known as:
A. capital deepening.
B. capital growth.
C. capital improvement.
D. capital augmentation.
Answer: A
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Francis Crawford recently received a 20 percent wage increase and desires to work less. We can conclude that at his current wage his supply of labor curve
A) has a negative slope. B) is vertical. C) has a positive slope. D) is U-shaped.
The Fed acts as lender of last resort:
A. when deposit insurance isn't enough or when an institution isn't covered by deposit insurance. B. only when an institution is not covered by deposit insurance but deposit insurance would have been enough. C. for any institution, household, or business, that faces a solvency crisis. D. only when an institution is covered by deposit insurance but deposit insurance isn't enough.
Which of the following is the basis for the consumption effect of a tariff imposed on imported automobiles?
A. The net increase in the availability of the domestic automobiles for the consumers owing to higher prices B. The net increase in the government revenue by taxing the domestic consumers who buy the imported automobiles C. The decline in the purchase of the product due to the increase in its price D. The net increase in the consumption of imported automobiles by the domestic consumers
Assume that the population is 200 million, the labor force is 100 million, and 90 million people are employed. Then, the unemployment rate is
A. 4.5%. B. 5%. C. 9%. D. 10%.