Are jobs the key to economic progress and the achievement of high income levels?
a. Yes, as long as people are working, real income levels will be high.
b. Yes, when full employment is present, income levels will be at their maximum.
c. No, it is not just employment, but employment that expands production of goods and services that others value highly relative to cost.
d. Uncertain, additional employment will increase real income only when the general level of prices is unchanged.
C
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A property of an asset that makes it desirable for use as a means of settling debts maturing in the future is a(n)
A) medium of exchange. B) unit of accounting. C) store of value. D) standard of deferred payment.
The Malthusian prospect of starvation of the population could be prevented by: a. increasing the amount of land available for agriculture
b. investing in research and development of new technologies. c. expanding food production on available land. d. all of the above