The discovery and utilization of vast, previously unknown oil and mineral deposits in a country will increase:
A. the unemployment rate.
B. the quantity of human capital.
C. the share of the population employed.
D. average labor productivity.
Answer: D
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The tax multiplier is smaller in absolute value than the government purchases multiplier because some portion of the
A) decrease in taxes will be saved by households and not spent, and some portion will be spent on imported goods. B) increase in government purchases will be saved by households and not spent, and some portion will be spent on imported goods. C) decrease in taxes will be saved by households and not spent, and some portion will be spent on consumer durable goods. D) increase in government purchases will be saved by households and not spent, and some portion will be spent on consumer durable goods.
Everything else held constant, if interest rates are expected to fall in the future, the demand for long-term bonds today ________ and the demand curve shifts to the ________
A) rises; right B) rises; left C) falls; right D) falls; left
Which of the following accurately describes the tax treatment of municipal bonds?
A) All income from municipal bonds is tax free. B) Interest is tax free, but unrealized capital gains are taxable. C) Interest is tax free, but realized capital gains are taxable. D) Interest is taxable, but capital gains are tax free.
If the price elasticity of supply equals zero, this implies that:
a. suppliers can easily change the quantity supplied of the product as the price of the product changes. b. the period under consideration is a very long-run time period. c. the supply curve is perfectly vertical. d. the percentage change in quantity supplied exceeds the percentage change in product price. e. the percentage change in quantity supplied equals the percentage change in product price.