Progressive Insurance's 'Tripsense' monitors driving patterns of the people who purchase the related insurance policy. This lowers insurance costs because
a. only more reckless drivers will accept the device
b. drivers will want to drive more carefully knowing they are being monitored
c. drivers will believe they can now drive more recklessly
d. it does not affect care in driving
b
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The slope of the aggregate supply curve shows that the ________ the price level, the ________
A) lower; is the quantity of potential GDP supplied B) lower; greater is the quantity of real GDP supplied C) higher; is the quantity of potential GDP supplied D) higher; greater is the quantity of real GDP supplied E) higher; smaller is the quantity of real GDP supplied
Economists say that long-run economic growth is almost entirely due to:
A. rising productivity. B. population growth. C. a democratically elected government. D. a balanced budget.
In the 1800s, people in mining towns in the West often paid for goods with gold nuggets or gold dust. What was the function of gold?
(A) It was used as representative money. (B) It was used as fiat money. (C) It was used as part of a barter system. (D) It was used as a currency.
Referring to Figure 4.1, the increase in output from point B to C is greater than the increase in output from point C to D because 
A. better workers are usually hired after the earlier ones. B. more workers always produce more. C. eventually workers are up against the fact that there are fixed inputs and more workers do not add as much. D. a small number of workers cannot take as good advantage of the division of labor as a larger number.