Which of the following is a labor resource?
A. a computer
B. a computer programmer
C. a piece of software used by a firm
D. silicon (sand) used to make computer chips
Answer: B
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Consider two economies: A and B that are completely similar, except their savings rate. The savings rate in economy A is greater than the savings rate in economy B. Which of the following statements is true?
A) Capital accumulation will be faster in economy B in comparison to economy A. B) Capital accumulation will be faster in economy A in comparison to economy B. C) Rate of capital accumulation will be the same in both economies. D) Growth rate in country B is likely to be higher than the growth rate of country A in the long-run.
Depository institutions undertake all the following activities EXCEPT they do not ________
A) print money B) minimize the cost of monitoring borrowers C) pool risk D) create liquidity
The above figure shows the demand and supply curves for housing in City B. What would be the effects of a rent ceiling equal to $1000 per month?
A) a surplus equal to 3000 apartments B) a surplus equal to 250 apartments C) a shortage equal to 3000 apartments D) nothing because the rent ceiling has no effect on the equilibrium price and quantity
In theory, the long-run supply curve for perfectly competitive market firms who are identical is:
A. downward sloping. B. perfectly elastic. C. upward sloping. D. perfectly inelastic.