Which of the following is a determinant of productivity?
a. human capital per worker
b. physical capital per worker
c. natural resources per worker
d. All of the above are correct.
d
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During a business cycle recession, it is very likely that real GDP will
A) be greater than potential GDP. B) be less than potential GDP. C) equal nominal GDP and equal potential GDP. D) exceed nominal GDP. E) equal nominal GDP but not equal potential GDP.
Soda and hot dogs are complements for one another. If a shortage of carbonated water leads to an increase in the price of soda, then the
A) demand for hot dogs increases. B) demand for hot dogs decreases. C) quantity of hot dogs demanded increases. D) quantity of hot dogs demanded decreases. E) More information is needed to determine if the demand increases or decreases.
The amount of money that can potentially be generated from each dollar of reserves is measured by the ______.
a. money multiplier b. discount rate c. interest rate d. required reserve ratio
Examples of monopolistically competitive industries in which firms differentiate their products by offering them at more locations include all of the following EXCEPT:
A. restaurants. B. video rental stores. C. retail clothing stores. D. wheat farms.