When a firm uses technological improvements to increase output from the same amount of inputs, the result is
A. guaranteed profits.
B. losses.
C. a new production function.
D. diseconomies of scale.
Answer: C
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The amount by which government purchases and transfers exceed tax revenues is known as the
A) primary surplus. B) primary deficit. C) primary current deficit. D) government debt.
All of the following are typically considered procyclical variables except
A) the inflation rate. B) investment expenditures. C) the unemployment rate. D) expenditures on durable goods.
Suppose that a study is released stating that as people increase the number of times they brush their teeth each day, they increase the number of times they go to the gym each week. This is best described as an example of
A. positive correlation. B. negative correlation. C. positive causation. D. negative causation.
(amounts in billions of dollars)
According to the above table, national income is
A. $11,866 billion. B. $12,637 billion. C. $11,968 billion. D. $11,943 billion.