Exam 19: Principles of Economic Behavior Microeconomics and Macroeconomics

Future generations will have to pay interest on the current debt because:

If the GNP increases by 8% and prices increase by 3%, the actual growth rate is:

Adam Smith would approve of governmental support of:

Liberals and conservatives would agree to some extent that economic goals should include:

Total "laissez-faire" is impossible because:

The American economy is shifting its work emphasis from production to service and information.

In order to increase the GDP, it is necessary to raise productivity.

The doctrine of "laissez faire" underlies all command economies.

A problem with laissez-faire economic policy is that there is:

Economists assume that households act as a unit, as if they were single individuals.

Although the American per capita income is one of the highest in the world:

The more consumers are willing to pay for a product:

The participants in a market economy cannot pursue their goals freely because they are affected by:

A way of calculating the total output of the economy and all incomes earned within the United States, regardless of whether the resources are American or foreign is:

Income distribution according to productive contribution is:

Which is NOT a socioeconomic goal?

The jobs of the future will include:

All public agencies, government bodies, and organization under the control of the various levels of government are called factor markets.

The economic participant who decides how to use the factors of production, and for what purpose, is called a:

Without stabilized prices: