Defenders of limits on economic growth are concerned that continued economic growth will eventually:
A. raise interest rates.
B. make plant and equipment obsolete.
C. exhaust natural resources.
D. reduce the rate of technological progress.
Answer: C
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If the marginal propensity to consume were two-thirds, the multiplier would be
a. 1 1/2. b. 1/3. c. 1 2/3. d. 3.
One reason stagflation is difficult to recover from is because:
A. less output requires less inputs to be hired. B. prices tend to adjust more quickly downward than upward. C. wages are sticky downward. D. input prices increase with output prices.
The Millennium Development Goals adopted by the United Nations included targets for which of the following?
A. environmental protection B. education C. income growth D. all of the above
Refer to Figure 3.2, which shows David's and Celeste's individual supply curves for flower arrangements per week. Assuming David and Celeste are the only producers in the market, if the market quantity supplied is 350, the price must be:
A. $10. B. $20. C. $30. D. $40.