Answer the following statements true (T) or false (F)
1. There is unanimous agreement that economic growth is both desirable and sustainable.
2. In the growth debate, defenders of economic growth believe that it is the primary path to raising living standards.
3. In the growth debate, critics of economic growth say that it will deplete our finite economic resources.
4. In the growth debate, critics of economic growth define "making a better living" as identical to the good life
1. FALSE
2. TRUE
3. TRUE
4. FALSE
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Which of the following statements about the comparison between GDP in China and in the United States is CORRECT?
A) Using the exchange rate to value China's GDP in dollars shows that China's GDP per person exceeds the GDP per person in the United States. B) Using purchasing power parity prices to value China's GDP in dollars shows that China's GDP per person exceeds the GDP per person in the United States. C) China's GDP per person is higher using purchasing power parity prices rather than the exchange rate when valuing China's GDP in dollars. D) None of the above answers are correct because they are all false statements.
Checking account deposits are counted as part of the M1 money supply because
What will be an ideal response?
According to the above table, if real Gross Domestic Product (GDP) equals $30,000, what is the average propensity to consume?
A) 0.75 B) 0.67 C) 0.8 D) 0.87
Which of the following statements is true?
A) Both efficiency wages and minimum wages increase unemployment. B) Efficiency wages increase unemployment while minimum wages help reduce unemployment. C) Both efficiency wages and minimum wages help reduce unemployment. D) Efficiency wages help reduce unemployment while minimum wages increase unemployment.