Which of the following is a macroeconomic concern?
A) the unemployment rate in a specific industry
B) the national output of the United States
C) wage levels in specific industries
D) the operation of an individual firm
Answer: B
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On a diagram of the consumption function and the 45-degree line, saving at each level of disposable income is the vertical distance
A) from the horizontal axis to the intersection point of the consumption line and the 45-degree line. B) from the horizontal axis to the 45-degree line. C) between the consumption and the 45-degree lines. D) from the horizontal axis to where the consumption line intersects the vertical axis.
Megan is a landscaper. Which of the following are included in her physical capital?
a. her knowledge of landscaping learned in college and her landscaping equipment b. her knowledge of landscaping learned in college, but not her landscaping equipment c. her landscaping equipment, but not her knowledge of landscaping learned in college d. neither her knowledge of landscaping learned in college nor her landscaping equipment
YearReal GDP (in billions of 2005 Dollars)Population (in Millions of People)1999$10,780279.632000$11,226282.4 Refer to Table 9.1. What was the growth rate of real GDP per capita from 1999 to 2000?
A. 3.00% B. 0.03% C. 11.56% D. 2.91%
Hector has $2,000 a month to spend on clothing and food. The price of clothing is $50 and the price of food is $20. Hector spends his entire income when he purchases ________ units of clothing and ________ units of food.
A. 32; 16 B. 50; 10 C. 20; 20 D. 24; 40