Conscription is a more advantageous way to obtain military personnel when _____
a. expenditures on welfare are low
b. the conscripted are paid the same as a volunteer army
c. the army is large relative to the size of the civilian population
d. the country is a dictatorship
c
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During recessions, economics majors earn about 35 percent more than the typical college graduate
Indicate whether the statement is true or false
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The purchasing power of farmers is determined by the
a. quantity of farm goods that a dollar can buy b. quantity of nonfarm goods that a dollar can buy c. quantity of nonfarm goods that a unit of farm goods can buy d. subsidies farmers receive from the government in the form of price ceilings on farm goods e. ratio of their incomes to the incomes of nonfarm producers
Capital income in the U.S. equals approximately ________ of GDP.
A. 75 percent B. 10 percent C. 25 percent D. 50 percent