Politicians tend not to support the policy solutions to end structural stagnation, because they would:
A. politicians aren't interested in solving society's problems.
B. politicians have to worry about getting reelected.
C. politicians don't like economists.
D. give more power to the Federal Reserve to fix the economy.
Answer: B
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Which of the following is true regarding the measurement of GDP?
A) Wages and profit income are used in the income approach to GDP. B) Wages and consumption are used in the expenditure approach to GDP. C) Consumption and investment are used in the income approach to GDP. D) Government expenditure is only counted in the income approach to GDP. E) Investment and wages are expenditures, and are therefore are used in the expenditure approach to GDP.
A perfectly inelastic demand means:
A. consumers will change the quantity they purchase when price changes. B. demand will drop to zero if the price increases by any amount. C. consumers will not change the quantity they purchase when price changes. D. the demand curve is perfectly horizontal.
An individual's level of utility is based on fulfillment of needs as opposed to wants
a. True b. False Indicate whether the statement is true or false
From 1990 to 2004, developed countries that experienced larger increases in Real GDP tended also to experience higher rates of
A. population growth. B. unemployment. C. deflation. D. productivity growth.