Economists generally assume that ____ economic growth is better for society
a. slower
b. faster
c. stable
d. declining
b
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Which of the following is true of a recessionary period?
a. It is usually accompanied by an improvement in the value of an economy's currency. b. It is usually accompanied by low levels of inflation c. It is usually accompanied by a dramatic decline in the stock of inventories. d. It usually lasts for a few months. e. It leads to a drastic decline in government spending.
Explain why some argue that income tax loopholes primarily benefit the rich.
What will be an ideal response?
A producer is hiring 20 units of labor and 6 units of capital (bundle A). The price of labor is $10, the price of capital is $2, and at A, the marginal products of labor and capital are both equal to 20. Beginning at A, if the producer increases expenditures on labor by $1 and decreases expenditures on capital by $1, then
A. output remains constant and cost increases by $8. B. cost remains constant and output decreases by 8 units. C. cost remains constant and output increases by 12 units. D. cost remains constant and output increases by 20 units. E. output remains constant and cost decreases by $2.
With respect to wealth in the United States, we presently find that the richest one percent of Americans own approximately how much of the nation's wealth?
A) 10 percent B) 35 percent C) 70 percent D) 85 percent