Compared to Western Europe, over the last three decades unemployment in United States has been ________ and the rate of job creation has been ________.
A. higher; slower
B. higher; faster
C. lower; faster
D. lower; slower
Answer: C
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Refer to the following figure. Which of the following production possibilities would result in the greatest rate of economic growth over time?
a. Point B
b. Point C
c. Point D
d. Point E
To calculate the cost of capital
A) it needs to know its economic profit. B) the firm must calculate the average weighted cost of debt. C) the firm needs to know how much debt it uses. D) the firm needs to know how much capital is has.
Which of the following is not among the factors that influence economic growth?
a. Increase in employment b. Growth in physical capital stock c. Technological progress d. Lower government debt e. An efficient political and legal system
In a market that is contestable, but has only a few sellers, the
a. threat of new entrants will prevent prices from rising above the competitive level. b. producers will be able to charge prices that are high enough to produce long-run economic profits. c. producers will not face new competition because the barriers to entry are high. d. market will never be expected to come close to the competitive result.