Without economic growth
A. we would have a non-zero-sum economy.
B. the production possibility curve would shift outward.
C. standards of living would rise only as the population increased.
D. we would have a zero-sum economy.
Answer: D
You might also like to view...
The government deficit is equal to
A) new money created minus new borrowing from the public. B) new borrowing from the public plus new money created. C) new borrowing from the public divided by new money created. D) new borrowing from the public minus new money created.
Ordinarily, governments attempt to promote competition in markets. Why do governments use patents to block entry into some markets when this prohibits competition?
A) Politicians sometimes succumb to pressure from lobbyists to grant favors to businesses for political reasons. B) Patents are an important source of government revenue. C) Patents are justified because they are an important means for creating network externalities. D) Patents encourage firms to spend money on research necessary to create new products.
Jobs have at least two important dimensions that include
A. decision authority and decision control. B. variety of tasks and uncertainty. C. uncertainty and decision control. D. variety of tasks and decision authority.
Which statement is true?
A. America has always had a very productive agricultural sector. B. The most influential factor in the United States' economic development during the 19th century was a great abundance of labor. C. The central problem of economics is an oversupply of capital. D. None of the statements are true.