What is the approximate number of Americans who have jobs?
a. 144 million
b. 200 million
c. 290 million
d. 310 million
e. 3.1 billion
a
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Foreign investment in the United States and U.S. investment abroad is recorded in the
A) capital and financial account. B) investment account. C) current account. D) creditor/debtor account. E) official settlements account.
Suppose the market clearing price for apples rises from $2.00 to $3.00 per pound, and the overall market clearing output decreases from 1 million to 1/2 million pounds. How can we explain the increase in price and decrease in market output?
A) Supply decreased and demand remained unchanged. B) Supply increased and demand remained unchanged. C) Demand increased and supply remained unchanged. D) Demand decreased and supply remained unchanged.
The rule of 70 estimates how long it will take a country to double its real GDP per capita by:
A. dividing the average growth rate by 70. B. dividing 70 by the average growth rate. C. dividing the current real GDP per capita by 70. D. multiplying the average growth rate by 70 percent.
If the social value of producing a good is always higher than the private value of producing it, then there is a
a. negative externality associated with the production of the good, and the market equilibrium quantity of the good is less than the socially optimal quantity. b. negative externality associated with the production of the good, and the socially optimal quantity of the good is less than the market equilibrium quantity. c. positive externality associated with the production of the good, and the market equilibrium quantity of the good is less than the socially optimal quantity. d. positive externality associated with the production of the good, and the socially optimal quantity of the good is less than the market equilibrium quantity.