The single most important source of productivity for economic growth for the United States has been:
A. economies of scale.
B. education and training.
C. technological advance.
D. improved resource allocation.
Answer: C
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The opportunity cost of an action is
a. objective and will be the same for all individuals. b. a measure of the undesirable aspects involved in the action. c. applicable only to choices involving material goods like commodities. d. the highest valued alternative forgone as the result of choosing an option.
If an investor had a $200,000 long-term capital gain on a $50,000 investment from 1984 to 2010, her real annualized rate of return was most likely
A. equal to the real rate of inflation. B. between 11 and 20 percent. C. between 0 and 10 percent. D. negative.
Compared to older workers, younger workers change jobs more frequently, so they are more prone to ________ unemployment; also, younger workers have fewer skills, so they are more prone to ________ unemployment.
A. frictional; cyclical B. structural; frictional C. frictional; structural D. cyclical; frictional
Identify the correct statement about net exports.
What will be an ideal response?