Using an example, explain the difference between a labor-intensive technology and a capital-intensive technology
What will be an ideal response?
The examples will vary, but students should describe a production process which involves using a large amount of labor with only a few tools or machines and a production process that uses a large number of machines with a small amount of labor.
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
What would be a way for the Federal Reserve to slow down the economy when it is growing too quickly or is inflationary?
A) print more money B) encourage the stock market C) sell more government bonds D) buy back government bonds on the open market
Ensuring that all information relevant for the pricing of securities is available to the public is the responsibility of the
A) Federal Reserve. B) Securities and Exchange Commission. C) New York Stock Exchange. D) NASD.
The national debt is
What will be an ideal response?