Apple is an American company, but its iPhones are assembled in China. The sale of each iPhone then is counted in China’s GDP as:
A. consumption.
B. investment.
C. an import.
D. an export.
D. an export.
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Which of the following describes what happened to the economy of the South after the Civil War?
A. The South, with the aid of new capital investment, public and private, became industrialized two decades after the Civil War. B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s played a key role in the industrialization of the South in the 1880s and 1890s. C. The South remained the poorest region in the country until the growth of the Sun Belt took off in the 1960s. D. The South remained a largely agricultural section of the economy until the 21st century.
Sarah used to be a music teacher at a local school, but got let go last year due to budget cuts. Sarah now works part-time as a waitress while looking for another teaching job. Sarah would be considered:
A. frictionally unemployed. B. underemployed. C. structurally unemployed. D. real-wage unemployed.
According to John Rawls, a "veil of ignorance" was needed for equitable decisions about appropriate social rules and individual endowments, so no one would know their place in society
Indicate whether the statement is true or false
Which of the following definitely means productivity has increased?
A. Less output from fewer workers. B. Less output from more workers. C. More output from more workers. D. More output from fewer workers.