Which of the following is a positive statement?
A) We need to carefully protect our borders.
B) Inflation is the most damaging thing that can occur in an economy.
C) When tax revenues are less than government spending there is a budget deficit.
D) Foreign aid should be reduced to help reduce the national debt.
Answer: C
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Labor productivity increases with
A) increases in consumption expenditure. B) increases in depreciation. C) increases in capital. D) All of the above answers are correct.
Your professor loves her work, teaching economics. She has been offered other positions in the corporate world that would increase her income by 25 percent, but she has decided to continue working as a professor. Her decision would not change unless the marginal
a. cost of teaching increased. b. benefit of teaching increased. c. cost of a corporate job increased. d. benefit of a corporate job decreased.