For the 1952-2014 period in the United States, productivity
A. showed the largest increase during the 1980s.
B. fluctuated in the short run around an upward trend.
C. increased at a constant rate.
D. decreased during the 1960s.
Answer: B
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Macroeconomists are concerned with each of the following issues EXCEPT:
A. Why does inflation vary across countries? B. Why does inflation vary over time? C. Why do the prices of computers increase more slowly than the price of gasoline? D. What are the costs of inflation?
Do you feel that when you retire there will still be Social Security? If so, do you feel that benefits will be at present levels or tax rates will have increased? Finally, has this discussion changed your plans regarding your own personal savings for your retirement?
What will be an ideal response?
Suppose that a negative externality is created by the production of good X. Which of the following statements is correct?
a. The social cost of producing good X includes the private cost plus the cost to bystanders of the externality. b. The increased social cost can be graphed as a decrease in demand. c. The market equilibrium quantity will be the socially optimal quantity as long as the government does not interfere. d. Both a and b are correct.
Which of the following WOULD NOT be considered an automatic stabilizer for the economy?
A. Welfare payments B. Unemployment compensation C. The progressive income tax D. An income tax surcharge