Economists oppose limiting economic growth possibilities because such limits would inevitably involve
a. some expansion of private sector production.
b. an increase in government spending.
c. some form of mandatory controls on economic activity.
d. mandated balanced federal budgets.
c
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Between 1960 and 2011,
A) the male labor force participation rate decreased rapidly, the female labor force participation rate decreased slowly, and the two rates are now equal. B) the male labor force participation rate decreased and the female labor force participation rate increased. C) both the male and female labor force participation rates increased. D) both the male and female labor force participation rates decreased slowly. E) the male labor force participation rate did not change and the female labor force participation rate increased.
In reality, a manger ________ be able to maximize the firm's profit period to period due to ________ changes to a firm's demand and/or cost.
A) will; known B) will not; random C) will not; known D) will; random
The additional benefits that arise by using an additional unit of the managerial control variable is defined as the:
A. opportunity cost. B. marginal benefit. C. total benefit. D. present value of benefits.
The law of diminishing marginal product
A. holds in the short run and the long run because as you increase the amount of variable inputs eventually the increases in output will decrease. B. holds in the short and long run because of economies to scale. C. does not hold in the short run because of fixed costs. D. does not hold in the long run because there are no fixed inputs in the long run.