Which statement is true? Selec
Which statement is true?
Select one:
a. To have economic growth, we must have zero unemployment.
b. On the production possibilities frontier, unemployment iszero percent.
c. To get out of a recession, we must move to some point closerto the production possibilities frontier.
d. On the production possibilities frontier, 85 percent of thelabor force is employed.
Which of the following is true?
Select one:
a. Keynes suggested that savers save and investors invest fordifferent reasons.
b. According to Keynes, an equilibrium below full employment wasa rare occurrence.
c. To fight a depression, Keynes said that the government shouldspend money on carefully chosen projects.
d. Keynes believed the economy was basically stable.
Which is the most accurate statement?
Select one:
a. Our trade problems with Japan and China are very similar.
b. Our trade deficits with Japan and China account for almostour entire trade deficit.
c. If Japan and China traded fairly, our trade deficits withthose two countries would disappear.
d. Japanese markets have been at least somewhat closed toimports.
Which statement is true?
Select one:
a. Xn had been positive from 1900 until the1970s.
b. Xn has always been negative.
c. Xn has always been positive.
d. Xn had been negative from 1900 until the1970s.
Which of the following statements is FALSE?
Select one:
a. Until the early 1980s Americans were investing much more inforeign countries than foreigners were in the U.S.
b. Our capital and current accounts add up to zero.
c. None of these is false.
d. Foreigners have reinvested most of the dollars they haveearned trading with us in U.S. government and corporate securities,real estate, and direct investment in plant and equipment.
Which of the following statements is true?
Select one:
a. Virtually all of the poor receive food stamps, but not publicassistance.
b. Virtually all of the poor receive public assistance and foodstamps.
c. None of these is true.
d. Virtually all of the poor receive public assistance, but notfood stamps.
Which of the following is true?
Select one:
a. Southern manufacturers benefited from high protective tariffsof the 19th century that kept out cheaper Japanese manufacturedgoods.
b. The completion of the transcontinental railroad system in the1880s eventually made the U.S. the world’s first mass market.
c. Agricultural inventions such as John Deere’s steel plows didlittle to improve farm productivity.
d. The canal system linking east-coast rivers with the GreatLakes in the 1820s created an “American economy” rather than just aseries of regional economies located in one country.
Which of the following statements is true?
Select one:
a. Every nation should try to be completely self-sufficient.
b. The basis for international trade is specialization.
c. International trade lowers our standard of living.
d. Importing consumer products increases our prices.
Which statement is true?
Select one:
a. Most taxpayers pay more in payroll tax than in personalincome tax.
b. A person earning $100,000 pays $10,000 in payroll tax.
c. The Medicare tax rate is 6.2 percent.
d. There is no such thing as a regressive tax.
Which statement is true?
Select one:
a. To have economic growth, we must have zero unemployment.
b. On the production possibilities frontier, unemployment iszero percent.
c. To get out of a recession, we must move to some point closerto the production possibilities frontier.
d. On the production possibilities frontier, 85 percent of thelabor force is employed.
Answer:
Sol.1 :- Option (b) is correct { On theproduction possibilities frontier, unemployment is zero percent}
It is so because the assumptions of ProductionPossibilities Frontier includes that all available resources are fully and efficientlyutilized .
Hence , 100 percent of the labour force is employedwhich directly means that the Unemployment is zero percent on PPF.
Option (d) is wrong because it states that On the productionpossibilities frontier, 85 percent of the labor force is employedbut on PPF 100 percent of the labour force is employed.
Option (a) is also wrong because it is not necessary to have 0%unemployment for economic growth.
Option (c) is wrong because recession and PPC does not effecteach other in most of the cases.
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