The standard way to measure the effects of debt in an economy is to look at the stock of debt relative to
A) the total budget. B) GDP.
C) total government spending. D) federal tax revenue.
B
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What assumption about human motivation is made in economics? Explain
What will be an ideal response?
A cigar factory employs 20 workers and produces 1,000 cigars a day. The company reduces the workforce to 19 workers and produces 912 cigars a day. The 20th worker:
A. had a marginal product of 88 cigars. B. caused average product to fall. C. must have had a lower marginal product than the 19th worker. D. All of these are true.
In the knowledge economy
A) physical property rights appear to be lacking. B) property rights have become stronger. C) property rights have been replaced by network externalities. D) intellectual property rights appear to be lacking.
If two individuals have identical schooling, their incomes will be equal
a. True b. False Indicate whether the statement is true or false