What is the relationship between government and coercion?
A) Government achieves its objectives exclusively through coercion.
B) Government aims at minimizing the use of coercion in society.
C) Government is generally granted the exclusive right to coerce adults.
D) Only governments use coercion.
C
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How does the slope of the AS curve affect the closure of the GDP gap?
What will be an ideal response?
Ceteris paribus, rising employment rates imply
A. Lower labor force participation rates. B. Higher labor force participation rates. C. Falling per capita GDP. D. Rising per capita GDP.
GDP per capita
A. Indicates the most efficient use of resources. B. Is real GDP corrected for price level changes. C. Is equal to a nation's GDP divided by its population. D. Does not permit comparisons of the economic welfare of different nations.
Use the following table to answer the question below.Alexandra's Production Possibilities ScheduleNatalia's Production Possibilities ScheduleNumber of Scarfs Knitted per dayNumber of Sweaters Knitted per dayNumber of Scarfs Knitted per hourNumber of Sweaters Knitted per hour040433236242916112080What is Natalia's opportunity cost of knitting a scarf?
A. 1/3 of a sweater B. 2 sweaters C. 1/2 of a sweater D. 3 sweaters