Insufficient capital formation can limit a poor nation's economic growth.
Answer the following statement true (T) or false (F)
True
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The demand for labor depends on I. technology. II. the prices of other factors of production. III. the price of the product
A) I and II B) II and III C) I and III D) I, II and III
A recessionary gap occurs when
A. the short-run equilibrium level of real GDP is less than the level consistent with the long-run aggregate supply curve. B. the short-run equilibrium level of real GDP is greater than the level consistent with the long-run aggregate supply curve. C. short-run aggregate supply falls, but other things remain constant. D. aggregate demand rises, but other things remain constant.
Refer to the information provided in Figure 3.14 below to answer the question(s) that follow.
Figure 3.14Refer to Figure 3.14. At a price of $90, there is an excess
A. demand of 150 sunglasses. B. demand of 600 sunglasses. C. supply of 450 sunglasses. D. supply of 600 sunglasses.
Decisions about saving and investment are
A. Generally made under conditions of complete certainty about the future B. Complicated by the fact that the future is uncertain C. Unaffected by expectations of the future D. Independent of expectations about the future