A country's income is:
A. difficult to measure given current macroeconomic data.
B. likely to increase if the country experiences high rates of inflation.
C. dependent upon how productive its workers are.
D. None of these is true.
Answer: C
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If Education R Us University thought that it faced an inelastic demand for the regular academic year but an elastic demand for summer school, and it wanted to increase its total tuition revenue, it would want to____ tuition in the regular academic year and ____ tuition for summer school a. Increase; increase
b. Increase; decrease. c. Decrease; increase. d. Decrease, decrease.
(Consider This) At fast-food restaurants:
A. consumers enjoy complete and accurate information. B. decisions are usually made by trial and error. C. decisions entail comparisons of marginal costs and marginal benefits. D. benefits always exceed costs.