Creative destruction refers to
A) the destruction of the government system which limits economic growth.
B) the movement from an agricultural society to a service economy.
C) the mechanism for establishing property rights.
D) the creation of new jobs and economic growth after destroying old jobs.
D
Economics
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Suppose that during a given month 500,000 persons quit their job to become self-employed. This will cause
A) the unemployment rate to fall. B) the unemployment rate to rise. C) payroll employment to rise. D) payroll employment to fall. E) no change in either the unemployment rate or payroll employment.
Economics
Gross income net of taxes is known as ________
A) Gross Domestic Product, or GDP B) disposable income C) Gross Domestic Product per capita D) retained earnings
Economics