In order to increase the capital stock, society must divert ________ that could be otherwise used to increase the supply of ________.
A. money; labor.
B. money; consumer goods
C. credit; labor
D. resources; consumer goods
Answer: D
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Refer to Figure 13-1. Ceteris paribus, an increase in the growth rate of domestic GDP relative to the growth rate of foreign GDP would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
Which of the following is NOT an example of consumer behavior consistent with the standard assumptions of microeconomic theory?
A) A concern for fairness can influence purchasing patterns. B) When demand increases, all else being equal, consumers expect price to rise. C) After a snowstorm, the demand for snow shovels increases. D) Snow shovels and snow plows are substitute goods. E) none of the above
Which one of the following persons would be considered unemployed?
a. a person not working who has given up searching for a job b. a part-time worker looking for a full-time job c. a construction worker who was laid off due to cold weather d. a full-time college student who is not a member of the labor force
Exploiting a nonrenewable natural resource is likely to:
A. create more productive workers in all facets of the economy. B. lead to a sustainable high rate of growth in income for a country. C. lead to a higher level of income for a country. D. All of these are true.