Which of the following is NOT a primary determinant of the number of jobs in a nation in the long run?
A) Age and size of the population
B) Labor market policies
C) Macroeconomics policies
D) International trade
D
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The relative amounts of the goods that will be exchanged for each other in trade refers to the nations'
A) autarky status. B) absolute advantages. C) terms of trade. D) production possibilities.
Which of the following occurs during an expansion?
a. Output rises, employment rises and unemployment falls. b. Output falls, employment rises and unemployment falls. c. Output rises, employment falls and unemployment falls. d. Output rises, employment rises and unemployment rises. e. Output rises, employment rises and tax revenues fall.
Briefly explain how public choice economists feel about the role of special interest groups in the government.
What will be an ideal response?
Which of the following would be a positive economic statement?
a. Bankers are now charging higher interest rates on credit cards to cover the increased cost of loaning funds to consumers b. The United States should be more aggressive in its trade negotiations with its major trading partners to help reduce the trade deficit c. More money should be allocated by the Federal government to social programs and less money to national defense d. Rents for apartments in this city are too high and must be controlled by city government to keep landlords from making too much profit