A major contributor to a country's real rate of economic growth is its real Gross Domestic Product (GDP) growth relative to its
A. money growth.
B. population size.
C. inflation.
D. none of these.
Answer: D
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Suppose that the technology used to manufacture laptops has improved. The likely result would be:
A. a decrease in quantity supplied of laptops. B. an increase in quantity supplied of laptops. C. a decrease in supply of laptops. D. an increase in supply of laptops.
The original sales price the Rooney family paid for the Pittsburgh Steelers was
A. $2,500. B. $2.5 billion. C. $25 million. D. $2.5 million.
Social Security benefits paid by the federal government
A. Are income transfers financed by taxes on workers and employers. B. Have no effect on the decision of for whom output is to be produced. C. Are not a transfer program because people must contribute to the fund in order to receive benefits. D. Are classified as in-kind benefits.
For a monopoly, marginal revenue is equal to
A) the amount people buy at a given price. B) the amount people buy between two prices. C) the change in total revenue brought about by a one-unit increase in quantity sold. D) the price multiplied by the quantity sold. E) the price of the product.