Technological progress occurs when the economy gets more output:
A. without any more capital or labor.
B. by using more capital per worker.
C. by using more capital but not more workers.
D. by using more labor but not more capital.
Answer: A
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Refer to Figure 9-2. Without the tariff in place, the United States consumes
A) 9 million pounds of rice. B) 15 million pounds of rice. C) 31 million pounds of rice. D) 42 million pounds of rice.
What are the main characteristics of high-income and low-income households?
What will be an ideal response?
Double taxation of corporate earnings
A. is an advantage that other business organizations do not enjoy. B. implies that stockholders earn higher returns to offset the tax disadvantage compared to other, similar financial assets. C. reduces the limited liability of corporations. D. only exists when corporations suffer losses.
Describe the role of business inventory change in determining the equilibrium level of GDP and changes in the level of GDP