Direct controls
A. rely on the criminal justice system for enforcement.
B. will be successful if a penalty is put in place.
C. can easily be enforced.
D. is a comparable method to emissions taxes.
Answer: A
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The development of a strain of wheat that will yield two crops per year rather than one crop per year is an example of economic growth resulting from
A) increased gross investment. B) technological progress. C) an increase in per capita real income. D) capital accumulation.
Refer to Figure 11-2. The curve labeled "F" is
A) the output supply curve. B) the total product curve. C) the marginal product curve. D) the average product curve.
Government spending on interstate highways, public housing facilities, and defense projects are all ways that the president can
a. close a recessionary gap b. close an inflationary gap c. combat inflation d. shift the aggregate demand curve to the left e. reverse the paradox of thrift
The production possibilities curve illustrates the basic principle that
A. an economy's capacity to produce increases in proportion to its population size. B. if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced. C. an economy will automatically seek that level of output at which all of its resources are employed. D. the production of more of any one good will in time require smaller and smaller sacrifices of other goods.