The demand for factors of production is referred to as:
A. production demand.
B. derived demand.
C. primary demand.
D. implied demand.
Answer: B
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Which of the following is not generally considered a failing of market economies?
a. Market economies can have severe swings from boom to bust. b. Market economies tend to underprovide public goods. c. Market economies tend to promote equity at the expense of efficiency. d. Market economies can misallocate resources when property rights are ill defined.
If banks move a substantial portion of depositors' money from interest-earning checking accounts into money-market deposit accounts, how will the money supply measures be affected?
a. M1 will become smaller, and M2 will become larger. b. Both M1 and M2 will increase in size. c. Both M1 and M2 will decrease in size. d. The size of M1 will be reduced, but M2 will be unchanged.
Refer to the above figure. Which diagram shows the effect on the market of cellphones when the demand for cellphones has increased?
A. graph C B. graph D C. neither graph D. both graphs
An important foundation of the new growth theory is that
A. we will get more technological advances when the rewards for producing them are greater. B. improvements in labor productivity are poor measures of technological growth. C. we will get more technological advances the more the government is involved. D. the growth rate of the capital stock is more important than the growth rate of new knowledge in generating economic growth.