are jobs the key to economic progress and the achievement of high income levels?
What will be an ideal response?
no. because the people must be employed in jobs where they are producing goods and services that others value highly relative to their cost
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When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline
Which of the following would be counted in U.S. GDP?
a. A new U.S.-produced radio bought by a Japanese citizen living in Kyoto b. A used U.S.-produced computer bought by a French citizen living in Kansas c. A new Japanese radio bought by a U.S. citizen in Rhode Island d. A U.S. pianist's concert sales in Britain e. Stock in Microsoft Corporation bought by a Russian citizen
Describe the elasticity of supply for college education. What effect does this have on price and quantity as demand for college increases?
Please provide the best answer for the statement.
Fluctuations in economic activity can result from
A) increases in the price of oil. B) wars. C) the loss of crops due to drought or insects. D) all of the above.