Of the following nations, the country with the highest saving rate is
A) the United States.
B) Japan.
C) Mexico.
D) Ethiopia.
B
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Refer to the information above. What is the value of the firm's capital stock at the end of period 5?
A) 612.5 B) 106.75 C) 175 D) 89.25
Sustained economic growth in the U.S. has been primarily a product of which of the following factors?
(a) War and exploitation of natural resources (b) Capital accumulation, increases in capital and labor productivity, and technological advancements (c) Restricted trade (d) Government policies and market interventions
If income tax rates are increased in an attempt to balance the federal budget, we should expect to see
a. an increase in consumption and a decrease in GDP. b. an increase in consumption and an increase in GDP. c. a decrease in consumption and a decrease in GDP. d. a decrease in consumption and an increase in GDP.
A drought has destroyed orange crops in California. The drought has caused
A) scarcity because there are less oranges now than people want. B) scarcity because people have to switch to oranges grown in Florida. C) a shortage because people cannot obtain as many oranges as they wish to buy at the pre-freeze price. D) a shortage because orange growers will have less income.