The offsetting effect of private saving compared to __________ borrowing is much less than one-to-one.
a. private
b. government
c. corporate
d. international
b. government
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The decrease in the value of the capital that results from its use and obsolescence is
A) depreciation. B) net investment. C) appreciation. D) deconstruction. E) gross investment.
In response to an increase in the population and the labor force, we would expect
a. both the short run and long run Phillips curve to shift to the right. b. the short run Phillips curve remains unchanged while the long run Phillips curve shifts to the right. c. the long run Phillips curve remains unchanged while the short run Phillips curve shifts to the right. d. both the short run and long run Phillips curve to shift to the left. e. none of the above.
More than 70 percent of national income can be attributed to:
a. compensation of employees. b. rental income. c. corporate profit. d. net interest. e. proprietors' income.
The law of increasing opportunity cost says that
a. wages increase as employment increases b. interest rates rise as inflation increases c. the cost of increasing employment opportunities increases with specialization d. the more of something we produce, the less expensive it becomes e. the more of something we produce, the greater is the opportunity cost of producing an additional unit