The United States is academically unique in having so many
a. trade schools.
b. colleges of arts and sciences.
c. business schools.
d. fine arts schools.
c. business schools.
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If the contribution from capital and labor growth in a given economy equals 4.0 percent and output growth equals 6.4 percent over that same period of time, then productivity growth must equal ________
A) 25.6 percent B) 10.4 percent C) 2.4 percent D) 1.6 percent
A source of economic growth is:
a. unemployment. b. inefficiency. c. less resources. d. greater entrepreneurship.
Figure (a) represents the domestic demand and supply of televisions. Suppose free trade is allowed and the current world price of televisions is P1 as shown in Figure (b). Now suppose the domestic government imposes a tariff increasing the domestic price to P2 in Figure (b). This tariff will cause
a. imports to fall from Q2 minus Q1 to Q4 minus Q3.
b. domestic producers to increase their production from Q1 to Q3.
c. domestic consumers to reduce their consumption from Q2 to Q4.
d. All of the above.
Last year a country had exports of $100 billion, imports of $70 billion, and purchased $60 billion worth of foreign assets. What was the value of domestic assets purchased by foreigners?
a. $70 billion b. $40 billion c. $30 billion d. $10 billion