Often, improvements in technology can:
A. continuously increase the productivity of workers.
B. lead to more improvements in technology.
C. lead to sustainable rates of growth in income for a country.
D. All of these are true.
Answer: D
You might also like to view...
Resolving Adam Smith's diamond-water puzzle involves
a. realizing that price is not directly related to total utility. b. knowing that at optimal purchase, price will tend to equal marginal utility. c. knowing that, as increasing quantities of a good are consumed, marginal utility diminishes and, conversely, consuming a small quantity of a good produces high marginal utility. d. All of the above are correct.
As conventionally measured, budget deficit and surplus calculations include the revenues and expenditures of
a. only current government operations; government trust funds are omitted. b. all government trust funds except Social Security. c. the Social Security Trust Fund, but other government trust funds are omitted. d. all government trust funds, including Social Security.
Figure 5-5
Figure 5-5 shows a consumer budget line for French fries and hamburgers. The household allocates a budget for these two goods.. If the price of an order of french fries is $2, how much income is allocated to fries and burgers combined?
a.
$2
b.
$4
c.
$20
d.
$40
The CPI in 1931 equaled 0.15. The CPI in 1932 equaled 0.14. The rate of inflation between 1931 and 1932 was ________ percent.
A. 6.7 B. -6.7 C. -7.1 D. 1.4