More education and training usually lead to higher levels of
A. productivity.
B. population.
C. pollution.
D. import protectionism.
Answer: A
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Utility measurements are:
A. a relative ranking of how much different people enjoy a particular good. B. used to compare one person's preference for a good to another person's preference. C. a relative ranking of the satisfaction a person gets from alternative combinations of things. D. None of these is true.
The measure used to determine whether two products are substitutes or complements is called
a. price elasticity of demand. b. income elasticity of demand. c. cross elasticity of demand. d. inverse elasticity of demand.
Supply-side economists believe that changes in government purchases affect
a. only aggregate demand. b. only aggregate supply. c. both aggregate demand and aggregate supply. d. neither aggregate demand nor aggregate supply.
In contrast to changes in government spending, tax changes affect spending
A. directly. B. in the same proportion. C. by a greater amount. D. indirectly.