Darius’s country and Selim’s country each have educated workers and plenty of factories, machines, and tools. However, Darius’s country has greater output and a higher economic growth rate. What is most likely the cause of this?
a. Darius’s country has a greater quantity and quality of natural resources.
b. The population of Selim’s country is much larger.
c. Selim’s country has a more extensive and reliable infrastructure network.
d. The government in Darius’s country does not enforce the rule of law.
a. Darius’s country has a greater quantity and quality of natural resources.
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Unemployment arising from a mismatch of skills is called: a. frictional unemployment. b. structural unemployment. c. seasonal unemployment. d. cyclical unemployment
e. underemployment.
Points inside the production possibilities frontier represent inefficient levels of production
a. True b. False Indicate whether the statement is true or false
The Federal Reserve has:
A. made some booms and recessions worse rather than better. B. a good track record of only making booms and recessions better. C. made some recessions worse but generally makes booms better. D. made some booms worse but generally makes recessions better.
Which of the following will cause a movement along the demand curve instead of a shift of the demand curve?
A) income B) tastes and preferences C) Expectations e the future price of a good D) none of the above