Output per capita would grow if:
a. the number of workers grow faster than the population.
b. the population grows faster than the labor force.
c. there was a greater level of disposable income.
d. the number of illegal immigrant workers were reduced.
a
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Which of the following institutions are NOT examples of financial intermediaries?
A) 1st National Bank, Chemical National Bank, Chase Manhattan National Bank B) Farmer's Credit Union, 1st Mortgage Bank, IBM Credit Union C) a Savings and Loan, New York Savings and Loan, First American Savings and Loan D) the New York Stock Markets, Chicago and Pacific
If the annual interest rate is 5%, the net present value of receiving $550 in the next year is:
a. $550 b. $523.80 c. $577.50 d. $500
Perfect competition means that firms are
A. powerful sellers. B. price makers (firms set the price of the market). C. unable to make normal profits. D. price takers (firms must accept the price of the market).
Answer the following statements true (T) or false (F)
1) Cost-push inflation increases real output and employment. 2) Proponents of zero inflation argue that even mild inflation (1 to 3 percent) reduces the economy's real output. 3) Economists who are willing to accept mild inflation consider it to be a necessary by-product of high and growing spending that produces high levels of output, full employment, and economic growth. 4) Demand-pull inflation is usually accompanied by low unemployment and higher real output.