An important factor in determining a country's rate of economic growth is
A) the diversity of its population.
B) its rate of saving.
C) the size of its labor force.
D) the proportion of the adult population that is working.
B
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The value of marginal product of the tenth worker hired by a firm is $50. What is the maximum wage that should be paid to the worker?
A) $5 B) $500 C) $50 D) $0.20
Which of the following countries had the highest level of government expenditures as a share of GDP?
a. Sweden. b. Japan. c. United States. d. Italy.
If the Fed decides to sell $10 million in securities and the Paris First National Bank writes out a $10 million check to purchase these securities, then the
a. Paris First National Bank now has $10 million more of excess reserves at the Fed b. Paris First National Bank has $10 million fewer reserves c. Fed has increased its asset position by $20 million d. Fed has reduced its asset position by $20 million e. money supply will likely increase due to the economy's inflationary phase
An improvement in a country's legal system that enhanced the ability of citizens to protect their property rights and enforce contracts would result in which of the following changes to the country's production possibilities curve?
a. a movement from a point on the curve to a point outside the curve b. a movement from one point to another point along the curve c. an outward shift of the curve d. a movement from a point on the curve to a point inside the curve