Which of the following groups of people would be included in the official unemployment rate?
a. part-time workers
b. workers temporarily laid off from jobs to which they expect to return
c. discouraged workers
d. all of the above
b
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The assumption that population growth will lead to a fall in real GDP per person rate back to subsistence level is
A) accepted by all economists today. B) associated with Malthusians. C) part of the neoclassical school of growth theory. D) central to the new growth theory.
Which of the following will most likely happen when better technology is used in production?
A) an upward movement along the production possibilities curve B) an outward shift of the production possibilities curve C) an inward shift of the production possibilities curve D) a downward movement along the production possibilities curve
A point outside of the production possibility frontier is:
A. inefficient. B. impossible. C. efficient. D. on the contract curve.
Rational self-interest is equivalent to pure selfishness
a. True b. False