It is generally true that per capita GNP is:
a. negatively correlated with labor productivity.
b. positively correlated with the standard of living.
c. negatively correlated with the life expectancy rate.
d. uncorrelated with the literacy level.
e. positively correlated with the rate of population growth.
b
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Using the standard 45° line diagram, how does an increase in investment spending effect the expenditure schedule?
A. It shifts the expenditure schedule downward. B. It shifts the expenditure schedule upward. C. It increases the slope of the expenditure schedule. D. It decreases the slope of the expenditure schedule.
The Clayton Act prohibits all horizontal mergers, regardless of their economic consequences
a. True b. False
In a world of perfect information, if consumers could costlessly contract with private contractors to produce a good and there were no economies of scale,
a. firms would be unnecessary b. markets would be unnecessary c. consumers would be unnecessary d. consumers would face greater production costs e. firms would be more efficient than the market
An increase in aggregate demand caused by any other factor than the price level in an economy will cause _____
a. the aggregate demand curve to shift rightward b. the aggregate demand curve to shift leftward c. an upward movement along the aggregate demand curve d. a downward movement along the aggregate demand curve