Innovation is
A. the same thing as invention.
B. the desired result of invention.
C. the necessary precondition of invention.
D. unrelated to invention.
Answer: B
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An increase in human capital will tend to cause which of the following?
A) increase labor productivity B) increase the standard of living C) increase economic growth D) all of the above
In the United States, the distribution of income after the income tax is ____ the distribution of income before the income tax
a. slightly less equal than b. about as equal as c. slightly more equal than d. a great deal more equal than
In a growing economy, it is possible to eliminate
A. absolute poverty. B. either absolute nor relative poverty. C. both absolute and relative poverty. D. relative poverty.
A government's debt is reduced when it
A. runs a surplus. B. sells more bonds. C. balances is budget. D. runs a deficit.