If natural gas is replaced by solar power as a more efficient form of energy, we should expect _____
a. a leftward shift of the aggregate supply curve
b. higher production prices at every output level
c. a decline in the growth of total output
d. a decrease in the stock of energy-efficient capital goods
e. an increase in total factor productivity
e
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Which of the following expenditures is classified as a mandatory expenditure of the U.S. federal government?
A) federal employee salaries B) national defense C) Medicaid D) foreign aid
If governments promise to bail out the financial system in the event of a crisis, this creates a moral hazard problem. Describe this problem
What will be an ideal response?
Balance-of-payments accounts are maintained according to the principles of single-entry bookkeeping
Indicate whether the statement is true or false
The division of labor usually refers to splitting
a. the three coordination decisions among different sets of planners.
b. the parts of a complex task among different workers.
c. the production of consumption goods and capital goods among different workers.
d. political leaders into radical and conservative camps each year.