With the use of growth accounting, which of the following helps explain why the
growth rate in the United States has been positive during the 1900s?
A) the increase in capital per worker
B) the reduction in oil prices
C) the reduction in nominal wages
D) the increase in the minimum wage
Five years ago Tammy always took a big envelope full of coupons to the grocery store.
Now she has a child in pre-school, she rarely brings coupons. Which of the following is
nota possible explanation of this change in her behavior?
A) Fewer coupons appear in the newspapers than five years ago.
B) The opportunity cost of clipping coupons has risen above their monetary value.
C) Grocery prices have decreased.
D) The opportunity cost of grocery shopping has decreased.
An increase in the price level will:
A) shift the aggregate expenditure line upwards and decrease aggregate output
demanded.
B) shift the aggregate expenditure line downwards and decrease aggregate output
demanded.
C) shift the aggregate expenditure line upwards and increase aggregate output
demanded.
D) shift the aggregate expenditure line downwards. and increase aggregate output
demanded.
Recall the Application about unwanted commercial e-mail, or spam, to answer the
following question(s).
According to the Application, the amount of e-mail spam would significantly decrease
if
A) the cost of sending spam exceeded its profitability.
B) states passed laws making spam illegal.
C) e-mail filters were developed to separate spam from legitimate e-mail.
D) more people responded to spam e-mails.
If Julie expects that her salary will double in 10 years, then what is the growth rate of
her salary per year?
A) 7 percent
B) 10 percent
C) 0.7
D) 70 percent
Refer to Figure 11.5. A decrease in the level of investment is best illustrated by diagram
A) A.
B) B.
C) C.
D) D.
Figure 9.2 Refer to Figure 9.2. Suppose the economy is at Point A, a decrease in the
price level causes a movement to Point:
A) B.
B) D.
C) E.
D) C.
Daily Output of Scotland and Poland
Table 18.1 Refer to Table 18.1. If Scotland produces
and consumes 5 accordions and 40 bagpipes while Poland produces and consumes 25
bagpipes and 100 accordions, then we say that Poland and Scotland are:
A) in autarky.
B) specializing and trading.
C) in limited trade.
D) fully utilizing the benefits of their comparative advantage.