Economic growth is:
A. an increase in our economy's potential output.
B. represented by the long-run aggregate supply curve shifting to the right.
C. a result of having more natural resources, land or capital.
D. All of these are true.
D. All of these are true.
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Dividends are
A) payments by a corporation to its shareholders. B) financial securities which represent ownership in a corporation. C) the interest rate paid on shares of stock. D) the yearly payments associated with bonds.
Suppose the U.S. can produce 10 units of food and five units of clothing (or any such linear combination) and Canada can produce six units of food and four units of clothing (or any such linear combination)
If trade occurs between these two countries, which should produce more food and which more clothing?
Which of the following is a characteristic of a more efficient tax system?
a. The system minimizes deadweight loss. b. The system raises the same amount of revenue at a lower cost. c. The system minimizes administrative burdens. d. All of the above are correct.
What is the difference between a positive statement and a normative statement?
a. A positive statement is contestable; a normative statement is testable. b. A positive statement is subjective; a normative statement is contestable. c. A positive statement is testable; a normative statement is objective. d. A positive statement is objective; a normative statement is contestable.