If the economy were producing at point E and moved to point D,
A. the unemployment rate would increase.
B. the unemployment rate would decrease.
C. the production possibilities would shift outward.
D. the economy would shift resources from producing butter to increasing the production of guns.
D. the economy would shift resources from producing butter to increasing the production of guns.
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In terms of framing, we respond better to:
A. negative framing. B. neither; research has shown that framing ultimately doesn't matter. C. consistent framing. D. positive framing.
When voters pay taxes in proportion to the benefits they receive from government projects,
a. efficient projects will tend to be opposed by a majority of voters. b. inefficient projects will often be favored by a majority of voters. c. projects that are efficient will tend to be favored by an overwhelming majority of voters. d. democratic political decision making can be expected to work poorly.
What do government purchases include in national income accounting?
A. Government transfer payments B. Purchases of goods for consumption but not public capital goods C. Purchases by federal, state, and local governments D. Purchases by the federal government only
The process of invention is the act of
A. introducing a new product into the market. B. applying a process in a new area of the market. C. discovering a new process or product. D. adopting an innovation to a profitable use.