In the United States, as measured by real GDP per person, average income is about how many times as high as average income a century ago?
a. 2
b. 4
c. 6
d. 8
Answer : d. 8
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Entry into the information technology industry becomes more attractive the more firms there are because of the increased availability of already trained workers. Given this trend, it appears that information technology is
a. an increasing-cost industry. b. a constant-cost industry. c. a decreasing-cost industry. d. a government subsidized industry.
GDP does not include which of the following activities?
A. Families eating out at restaurants. B. Households spending to enhance security of their neighborhoods. C. Businesses installing anti-pollution equipment. D. Couples remodeling their own homes (with their own labor).
Which country has the highest unemployment rate?
a. Spain b. Ireland c. Sweden d. France e. All have low unemployment
For about the past 45 years, federal taxes have remained relatively constant as a percentage of GDP.
Answer the following statement true (T) or false (F)