Most entrepreneurs finance their purchases of real capital using their past saving
a. True
b. False
Indicate whether the statement is true or false
False
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During the expansion phase of the business cycle
A) employment decreases. B) unemployment increases. C) production increases. D) income decreases.
What will happen to the annual rate of growth of per capita real GDP if the annual rate of population growth increases and the annual rate of growth of real GDP goes down?
A) It will increase since an increase in population means an increase in labor that translates into an increase in real GDP. B) It will increase since the annual rate of growth of real GDP does not influence the growth rate of per capita real GDP. C) It will decrease since an increase in the growth rate of population and a decrease in the growth rate of real GDP both work to decrease the growth of per capita real GDP. D) The effect will depend upon whether the rate of population growth is greater than or less than the rate of growth of real GDP.
Briefly discuss the determinants of demand other than price
What will be an ideal response?
All of the following can raise wages of union members EXCEPT
A) increasing the demand for non-union made goods. B) increasing the demand for union-made goods. C) limiting union membership over time. D) increasing the productivity of union workers.