A machinery used in a factory is a(n) ________ good. A) club B) capital C) inferior D) public ANSWER B
Date: September 2nd, 2020
Over the past decade, a nation’s real Gross Domestic Product (GDP) grew at a constant rate of 10 percent per year while its population grew 8 percent annually. Forecasters predict that during the coming decade, real GDP will continue to grow 10 percent annually, but the population growth rate is expected to drop to 6 […]
Date: September 2nd, 2020
If the level of investment in an economy is $4,000 and the GDP of the economy is $10,000, the savings rate in the economy must be: A) 40%. B) 44%. C) 30%. D) 20%. ANSWER A
Date: September 2nd, 2020
Gross public debt is the amount of funds that A) U.S. residents owe to foreign residents. B) the federal government owes to all holders of U.S. securities. C) the federal government owes to taxpayers. D) states owe to the federal government. ANSWER B
Date: September 2nd, 2020
If real per capita Gross Domestic Product (GDP) grows at a constant annual rate of 4 percent and the annual population growth rate increases from 1 percent to 2 percent, the annual rate of growth of per capita real GDP will A) increase. B) decrease. C) remain unchanged. D) increase or decrease depending. ANSWER […]
Date: September 2nd, 2020
The demand for money curve is drawn A) holding several things constant, including the price level and interest rates. B) with interest rates on the vertical axis and the curve sloping down since lower interest rates mean the “price” of holding money has fallen. C) holding several things constant, including GDP and interest rates. D) […]
Date: September 2nd, 2020
If the Fed promises to conduct a(n) ________ for several years, inflation expectation will be ________. A) contractionary fiscal policy; high B) expansionary monetary policy; high C) contractionary monetary policy; high D) expansionary fiscal policy; low ANSWER B
Date: September 2nd, 2020
Over the past several decades, what has been true about inflation in the United States? A) Inflation has been very stable. B) The nation has experienced persistent deflation. C) Inflation rates have been consistently negative. D) Inflation rates have been consistently positive. ANSWER D
Date: September 2nd, 2020
Economics is best defined as the study of A) financial decision-making. B) inflation, unemployment, and economic growth. C) the choices made by people faced with scarcity. D) how consumers make purchasing decisions. ANSWER C
Date: September 2nd, 2020
According to the text, minimum-wage laws cause increases in A) productivity. B) employment possibilities. C) poverty. D) structural unemployment. ANSWER D
Date: September 2nd, 2020
