The term "economic growth" refers to increases in
A. societal well-being.
B. resources use.
C. productive capacity.
D. satisfaction.
Answer: C
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Consider the market for cellular phones. Which of the following shifts the demand curve leftward?
A) studies showing using cellular phones can cause brain cancer B) a decrease in the price of cellular phones C) a decrease in the quantity demanded of cellular phones D) an increase in the services provided by cellular phones, such as text messaging E) an increase in the price of cellular phones
The above figure shows the market for winter jackets. In an effort to keep the nation warm, the president places a price ceiling of $100 in the market for winter jackets. What would be the maximum price someone would pay in the black market?
A) $100 per jacket B) $120 per jacket C) $130 per jacket D) $90 per jacket E) $140 per jacket
If the firm hires more labor, everything else held constant, then
A) the marginal product of labor falls. B) output decreases. C) there is an increase in the marginal product of labor. D) total factor productivity falls.
An increase in the reserve ratio
A. increases the size of the income multiplier. B. decreases the size of the income multiplier. C. increases the size of the deposit expansion multiplier. D. decreases the size of the deposit expansion multiplier.