A higher saving rate leads to faster growth because
A) more saving produces greater additions to capital per hour of labor, raising real GDP per person.
B) capital would wear out faster.
C) people could consume more of an economy's output.
D) population growth would accelerate.
A
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Panasonic sends its HDTV salespeople to training sessions. This is an example of
A) a macroeconomic decision. B) scarcity. C) a firm investing in workers' human capital. D) entrepreneurshi
Workers in industries protected by tariffs and quotas are likely to support these trade restrictions because
A) they do not want to offend their employers who want them. B) they believe the restrictions will protect their jobs. C) politicians lobby to convince workers the restrictions will make them better off. D) they don't understand that the restrictions will threaten their jobs.
The DeBeers Company of South Africa was able to block competition through
A) ownership of an essential input. B) differentiating its product. C) government-imposed barriers. D) economies of scale.
A complete understanding of tax policy requires knowledge of the principles of equity and efficiency in taxation, as well as awareness of _____
a. business b. sociology c. ethics d. politics