An increase in the rate of economic growth curve could be caused by all of the following except
A. a national tax that encourages all employers to provide more training and education for employees which leads to an across-the-board upgrade of the skill level of the nation's workforce.
B. a movement along the production possibilities curve so that the society produces more consumer goods and less capital goods.
C. an increase in immigration that increases the country's labor force by 20 percent.
D. an increase in research and development spending for space technology that improves the quality of the nation's capital stock.
B. a movement along the production possibilities curve so that the society produces more consumer goods and less capital goods.
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A customs duty is
a. not a tax b. a progressive tax with respect to income c. a regressive tax with respect to income d. a proportional tax with respect to income e. a proportional tax with respect to wealth
What is the equation for net exports?
a. X – M b. X + M c. X × M d. X / M
In practice, the three measurements of inflation, the CPI, PPI, and GDP deflator:
A. all measure inflation, but focus on different parts of the economy. B. are all positively correlated. C. all closely track each other. D. All of these statements are true.
Refer to the graph below. If the output level increases from Q2 to Q3, then the:
A. Marginal cost of the product becomes closer to its marginal benefit
B. Marginal cost of the product increases while its marginal benefit decreases
C. Marginal cost of the product decreases while its marginal benefit increases
D. Marginal cost of the product stays constant while its marginal benefit increases