An increase in population growth in a country
A. may not necessarily cause an increase in per capita real Gross Domestic Product (GDP).
B. may not cause an increase in labor resources in rich countries because employers will cut down on the number of hours required of workers.
C. will always cause an increase in per capita real Gross Domestic Product (GDP).
D. always causes an increase in labor resources.
Answer: A
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A justification for general grants is _____
a. the equalization of revenues between government units with different income levels b. higher level governments might have a greater ability to raise revenue c. progressive taxation cannot be done on the local level d. a and b
Once a monopolistically competitive firm innovates, it is likely that:
A. it will enjoy long-run profits. B. other firms will rush to create similar, highly substitutable goods. C. it will need government protection to earn enough to cover its R & D costs. D. None of these is likely to happen.
The dollar has depreciated if it buys less of a foreign currency
a. True b. False Indicate whether the statement is true or false
Economic profit
a. will never exceed accounting profit. b. is most often equal to accounting profit. c. is always at least as large as accounting profit. d. is a less complete measure of profitability than accounting profit.