In the short run, an increase in export sales would cause output to ________ and the price level to ________.
A. fall; stay constant
B. rise; rise
C. fall; rise
D. rise; stay constant
Answer: D
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Labor productivity can be increased if
A) the government mandates it. B) the standard of living declines. C) people spend less time developing skills before entering the workforce. D) there is an increase in capital goods.
According to your text, during the 2000s, the inflation rate was in which range of percentages?
A) 0-5% B) 5-10% C) 10-15% D) 15-20%
A new major league baseball expansion team is moving to your town. It will inject spending worth $40 million into your local economy initially. The Chamber of Commerce predicts that this will generate a total of $500 million in additional income for your town. The team owners think that this is an underestimate. What do you need to know to figure out who is right? Explain
An annual income of less than $24,000 is
A. Extreme poverty. B. The poverty rate. C. Below the poverty threshold. D. In-kind income.