It is possible for an economy to become more productive and per-capita output to increase if
A) technology is improved. B) inventions are developed.
C) new ideas are generated. D) all of the above
D
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What important changes have occurred in the composition of the labor force since 1960? Is the popular image of the American worker as a factory worker accurate? Describe the types of jobs Americans are working in today.
What will be an ideal response?
When the price level increases there is ________ movement along the aggregate demand curve because the buying power of money ________
A) a downward; increases B) an upward; increases C) an upward; decreases D) no; does not change E) a downward; decreases
Which of the following is NOT studied in microeconomics?
A) the effect of an increase in gasoline taxes on the purchase of gasoline B) the impact of an increase in the unemployment rate on economic production C) the impact of firms' collective hiring choices on the aggregate unemployment rate D) the impact of higher fuel prices on the cost of airline tickets
Brian is the sole proprietor owner of Long Voyage Software, which generates maps for wilderness trips. He started the business with an initial investment of $80,000 . A faulty map caused one customer to get hopelessly lost. After her rescue and recuperation, she sued Long Voyage for $5,000,000 . Which of the following is true?
a. The customer can be awarded only $80,000--what the firm has available to pay. b. The customer can be awarded $5,000,000 but can get only $80,000. c. The customer can be awarded $5,000,000 . but Brian personally won't have to pay more than $80,000. d. If $5,000,000 is awarded, Brian will have to pay none of it. e. If $5,000,000 is awarded, Brian is personally responsible for paying all of it.