The processes used to produce goods and services describes
A) innovation.
B) entrepreneurship.
C) technology.
D) capital.
Answer: C
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All of the following would be included in aggregate expenditure except
A. social security payments. B. changes in inventories. C. sales of domestically produced goods to foreigners. D. purchases of services provided by government employees.
According to the 2007/2008 United Nations Human Development Report, the Gini ratio for Portugal is 38.5, Norway is 25.8, the United States is 40.8, and Russia is 39.9. Which of these four countries has the highest level of income equality?
A) Portugal B) United States C) Norway D) Russia
A variable that tends to move in advance of aggregate economic activity is called
A) a leading variable. B) a coincident variable. C) a lagging variable. D) an acyclical variable.
According to efficiency wage models, labor productivity depends on
A) the number of employees at a firm; the smaller the number of employees, the more productive each employee is. B) the amount of capital that employees have to work with. C) the wage rate the firm pays its employees; a cut in wages can cause labor productivity to decline. D) whether or not the economy is currently producing Natural Real GDP. E) none of the above