Increasing the capital available to the workforce, holding other factors constant, tends to ________ total output while ________ average labor productivity.
A. decrease; increasing
B. increase; not changing
C. increase; decreasing
D. increase; increasing
Answer: D
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To encourage invention and innovation, the government provides
A) patents. B) public franchises. C) government licenses. D) natural monopolies. E) easily obtained ownership barriers to entry.
Refer to Figure 4-3. If the market price is $2.50, what is Kendra's consumer surplus?
A) $9.00 B) $7.50 C) $1.50 D) $0
Why did the government use expansionary monetary policies in the late 1970s, and what was the principal negative macroeconomic effect of these policies?
What will be an ideal response?
An unexpected exogenous event which has a significant impact on an important sector of the economy or on the economy as a whole is called a(n)
A) macroeconomic shock. B) countercyclical fluctuation. C) downward economic spiral. D) autonomous destabilizer.