Economic growth means:
A. more production of goods and services.
B. people maintain their standard of living.
C. all of a nation’s citizens must be better-educated.
D. in general tax revenues are lower.
A. more production of goods and services.
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The study of microeconomics and macroeconomics differ in that
a. microeconomics is concerned with the domestic economy, while macroeconomics is concerned only with the international economy b. microeconomics examines the individual units of the economy, while macroeconomics studies the whole economy c. microeconomics studies the actions of households, while macroeconomics studies the actions of business firms d. microeconomics studies the economy in terms of private individuals and firms, while macroeconomics includes the effect of government e. microeconomics examines the whole economy, while macroeconomics studies the individual units of the economy
The demand curve for a good is a line that relates
a. price and quantity demanded. b. income and quantity demanded. c. quantity demanded and quantity supplied. d. price and income.
Inward-oriented policies
a. are generally supported by economists. b. are primarily concerned with the development of human capital. c. in some ways are like prohibiting the use of certain technologies. d. All of the above are correct.
Governments in market economies usually have significant control over
A. investment spending. B. personal consumption spending. C. import spending. D. education spending.