Economic growth can be achieved through
A. a decrease in the supply of labor.
B. a decrease in the labor force participation rate..
C. an increase in the production of capital goods.
D. a reduction in expenditures on research and development.
Ans: C. an increase in the production of capital goods.
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Looking at the annual inflation rates in the United States from 2000 to 2013, we see that they
A) were above 10 percent throughout the period. B) were at or below 5 percent throughout the period and was negative for a year. C) started low, but increased to over 9 percent by the end of the period. D) started out above 10 percent but fell to 5 percent by the end of the period. E) were negative for most of the years during this period.
A firm in a competitive labor market will hire labor until the value of marginal product of labor equals the
A) firm's marginal revenue. B) firm's marginal cost. C) firm's average cost. D) wage rate.
Liquidity can be defined as the
A. cash value of money. B. value of money adjusted for inflation. C. value of fiat money when used for spending. D. ease with which an asset can be converted to a spendable asset.
A closed economy
a. does not trade with other economies. b. is centrally-planned. c. does not allow financial intermediation. d. All of the above are correct.