Other things the same, in the Solow model in the steady state, a higher rate of population growth ________ growth rate of output
A) leads to a higher
B) leads to a lower
C) has no long-run effect on the
D) has an ambiguous effect on the
A
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The expenditure multiplier arises because one person's additional expenditure becomes another person's additional income that will generate additionalÂ
A. cyclical unemployment. B. menu costs. C. expenditure. D. investment demand.
The figure above shows supply curves for soft drinks. Suppose the economy is at point a. A movement to point b could be the result of
A) an increase in technology. B) a decrease in the relative price of a soft drink. C) an increase in the relative price of a soft drink. D) an increase in the money price of a soft drink.
If an economy uses monetary policy as its stabilization tool, the real interest rate and thus ________-run economic welfare depend on that economy's ________ policy
A) short, monetary B) short, fiscal C) long, monetary D) long, fiscal
Refer to Scenario 7.1. The total cost to produce 50 cookies is
A) $20 B) $25 C) $50 D) $60 E) indeterminate