The slope of the output per worker function is equal to the
A) marginal product of capital.
B) marginal product of labor.
C) savings rate.
D) growth rate of the population.
A
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Unplanned inventory decreases: a. tend to result in an decrease in income
b. tend to result in an increase in real output. c. tend to further reduce production. d. signal that demand was weaker than expected.
Assume the production of a good causes a negative externality. In the market equilibrium, the marginal consumer values the good at
a. less than the social cost of producing it. b. less than the private cost of producing it. c. more than the social cost of producing it. d. more than the private cost of producing it.
If Saudi Arabia has invested substantially more money in foreign countries than foreigners have invested in Saudi Arabia, then we might expect Saudi:
A. GNP to exceed Saudi GDP. B. net foreign factor income to be negative. C. GDP to exceed Saudi GNP. D. net foreign factor income to be zero.
The multiplier equals
A. change in consumption/change in real disposable income. B. consumption/real disposable income. C. 1/(1 - MPC). D. 1/MPC.