Which of the following contributes to economic growth?
A) increase in environmental protection policies
B) increase in labor regulations restricting the hours of overtime allowed
C) increase in labor productivity
D) increase in consumer spending
C
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To show how a variable ________, we typically use a ________
A) relates to another variable; time-series graph B) relates to another variable; pie chart C) changes over time; time-series graph D) changes over time; cross section graph E) changes over time; cross time chart
A person can benefit from specialization and trade by obtaining a good at a price that is
a. lower than his or her opportunity cost of that good. b. the same as his or her opportunity cost of that good. c. higher than his or her opportunity cost of that good. d. different than his or her opportunity cost of that good.
The tax that brings in the most revenue in the United States is the
A. capital gains tax. B. personal income tax. C. Social Security tax. D. corporate income tax.
Which of the following checks issued by the government represents a transfer payment?
A) The federal government pays a defense contractor for development of a missile system. B) The federal government pays a retiree her Social Security benefits. C) The state of Oregon pays a construction firm for its work in repairing a state highway. D) The state of Illinois pays groundskeepers at the state capitol building their weekly wages.