In explaining economic growth, new growth theory stresses the role played by
A) women in the workforce.
B) the government in directing the nation's investments.
C) population moderation.
D) the participation rate of elderly workers.
E) human choices.
E
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An economy that does NOT trade with the rest of the world is a(n)
A. open economy. B. command economy. C. closed economy. D. trade economy.
The impact of the multiplier effect depends on the size of the initial change in expenditures.
Answer the following statement true (T) or false (F)
An essential point, among many, in the refutation of the “cheap foreign labor” argument is that
A. foreign workers have a lower standard of living. B. foreign workers are less productive. C. low foreign wages mean fewer exports for the United States. D. the United States does not benefit from cheap foreign labor so the goods should be kept out.
Which of the following is a major by-product of the technological change that took place in the 1980s?
A. Well-defined property rights B. Rapid product obsolescence C. An increase in outsourcing D. Reorganization of inventory control methods