Refer to the information. If the real interest rate is 10 percent, the equilibrium GDP will be:Answer the following statements true (T) or false (F)
Answer the question below on the basis of the following information for a private closed economy:
A. $100.
B. $200.
C. $300.
D. $400.
C. $300.
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The total income of capital and labor must equal the value of total:
A. production. B. revenue. C. investment. D. profits.
Making choices on the margin means
A) scribbling on the edges of your notebook paper. B) comparing all relevant alternatives systematically and incrementally. C) making a decision based on emotions. D) making decisions in the largest possible increments. E) taking account of all marginal benefits, all opportunity costs, and all sunk costs.
If the working age population ________ and the labor force does not change, the ________
A) increases; labor force participation rate will increase B) increases; labor force participation rate will decrease C) increases; unemployment rate will increase D) decreases; unemployment rate will increase E) decreases; labor force will increase
Which of the following will NOT increase a worker's human capital?
A) more work experience B) more training C) more schooling D) a higher wage rate