Generally, an open economy can ____unavailable correct a country's stock of resources
Fill in the blank(s) with the appropriate word(s).
increase
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If the price of textbooks increases by one percent and the quantity demanded falls by one-half percent, then demand for textbooks is:
A. negative. B. inelastic. C. unit elastic. D. elastic.
What must be done to net domestic product at factor cost in order to transform it to gross domestic product? Explain why these adjustments are necessary
What will be an ideal response?
Forecasts by the Congressional Budget Office show spending on Social Security, Medicare,
and Medicaid rising from 10.1 percent of GDP in 2015 to ________ percent of GDP in 2090, and by 2090 the federal government will be spending, as a fraction of GDP, ________ on these three programs as it currently spends on all programs combined. A) 16.2 percent; half as much B) 19.8 percent; half as much C) 19.8 percent; nearly as much D) 16.2 percent; nearly as much
Suppose y = Ak1/4, the capital-labor ratio is $40,000 per worker, the level of total factor productivity is 800, 70% of the population works, and there are 70 million workers. Real GDP per capita is
A) $3,500.00. B) $5,543.72. C) $7919.60. D) $9,899.50.