In which of the following situations would the average standard of living rise?
a. GDP grows at the same rate as population
b. GDP grows more slowly than population
c. GDP grows faster than population
d. GDP per capita remains constant
e. GDP grows faster than transfer payments.
C
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With respect to redistribution, one reason "The Big Tradeoff" exists is because
A) government programs employ resources that could have been productive elsewhere. B) government policymakers must choose between funding the various programs. C) government programs only employ resources that had no value to society otherwise. D) government programs only pay workers their opportunity cost.
When a credit card company offers different services with its card, like travel insurance for air travel tickets purchased with the credit card or product insurance for items purchased with the card, the credit card company is trying to
A) shift the demand curve for competing firms to the right. B) create a perfectly competitive market in which to sell its credit card. C) create a barrier to entry for competing firms. D) convince customers that its card has greater value than those offered by rival firms.
Financial securities are exchanged by dealers linked by computers in a
A) stock exchange. B) public exchange. C) financial exchange. D) over the counter market.
When tax code changes increase saving incentives, the interest rate will _____ and investment will _____
Fill in the blank(s) with correct word