Which of the following allows an economist to conclude that the welfare or happiness of society as a whole is clearly increasing?
A) A decrease in nominal GDP
B) A decrease in real GDP
C) An increase in nominal GDP
D) An increase in real GDP
E) None of the above.
D
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According to the Application, one factor which was responsible for roughly one-fifth of hybrid vehicles purchased in 2007 was a federal subsidy of up to $3,400 per hybrid vehicle
The increase in sales due to this subsidy is an example of which element of the economic way of thinking? A) responding to incentives B) using assumptions to simplify C) thinking at the margin D) isolating variables
According to your textbook, globalization tends to increase the productivity of nations through
A) improvements in the labor skills of their citizens. B) increasing technological knowledge. C) improving the coordination of individual economic plans. D) doing all of the above.
Aggregate Supply decreases when
A. worker productivity increases. B. technology improves. C. raw materials' prices fall. D. wages rise.
A decrease in the inflation target by the central bank would:
A. cause the dynamic aggregate demand curve to shift to the right. B. cause the dynamic aggregate demand curve to shift to the left. C. have no impact on the positioning of the dynamic aggregate demand curve. D. be reflected by a movement down and along the existing dynamic aggregate demand curve.