Which of the following is the primary source of high earnings in a market economy?
A) a willingness to work hard even if you are not productive
B) a willingness to engage in actions where you gain at the expense of others
C) the ability to provide others with things that they value highly
D) a willingness to exploit workers and consumers
C) the ability to provide others with things that they value highly
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A nation's saving equals its ________ income less its spending on ________.
A. real; investment B. nominal; net taxes C. nominal; investment D. current; current needs
Import restrictions
A) can protect United States jobs in the protected industry, which increases economic welfare of the country as a whole. B) can protect United States jobs in the protected industry but will also lead to job reductions in other export industries. C) hurt people who work in importing companies, but makes consumers better off. D) cannot protect American jobs in any sector of the economy.
Income mobility is:
A. how much income is stored in offshore banks. B. the ability to improve one's economic circumstances over time. C. how likely the income associated with each job in the country will change in relative terms. D. how likely the income associated with each job in the country will increase over time.
Marginal, average, and total figures are unrelated
a. True b. False Indicate whether the statement is true or false