Refer to Table 10-2. Using the table above, what is the approximate average annual growth rate from 2013 to 2016?
A) -1% B) 1% C) 2% D) 4%
D
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The economic impact of a change in spending, working through the multiplier, takes effect
a. immediately. b. very quickly, with a small number of rounds of spending. c. after a very long period of time. d. after multiple rounds of spending occur.
Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. Suppose demand for wheat is initially D2. If consumer incomes increase, then demand for wheat will shift to ________. This will ________ the equilibrium price of wheat, and individual profit-maximizing firms will produce ________ bushels of wheat.
A. D3; decrease; 7 B. D1; decrease; 0 C. D3; increase; 15 D. D1; increase; 10
Overuse of a common resource may be avoided by all of the following methods except
A) charging for the use of a common resource. B) government taking over ownership of all private common resources. C) setting quotas or legal limits on the quantity of the common resource consumed. D) issuing tradable permits for the use of a common resource.
The gains from general training in human capital tend to go to the
A. individual and not to the employing firm. B. federal government in the form of higher taxes. C. parents since they paid for the education in the first place. D. employing firm and not to the individual.