The number of tools or machines each worker has to work with measures the
A. labor force participation rate.
B. productivity of workers.
C. average wage rate of workers.
D. capital per worker ratio.
Answer: D
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Given the path of natural real GDP growth, economists prefer an economy such as ________, in which the real GDP gaps are ________
A) Stabilia's, minimized B) Stabilia's, maximized C) Volatilia's, minimized D) Volatilia's, maximized
The problem of scarcity
a. arises only in poor countries. b. exists because the price of goods is too high. c. exists because of limited resources. d. will eventually be solved by better planning.
In general, with a monopolist's outcome:
A. consumers lose surplus. B. monopolies earn profit. C. deadweight loss occurs. D. All of these statements are true.
When a price rise of an asset can be justified by fundamental concepts and past experiences, then such a price rise does not constitute a classic bubble
a. True b. False Indicate whether the statement is true or false