An economy grows when it does all of the following except ?_______.
A. lowers prices
B. develops better technologies
C. improves the quality of labor by education
D. implements? on-the-job training
E. acquires more machines to help it produce
B: lowers price
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Use the following graph of the demand for electric cars to answer the question below.
Which of the following would occur if electric cars became less expensive?
A. D3 to D1 B. Point a to point b C. Point b to point A D. D2 to D1
Assume that for a particular firm's output price = $80, marginal cost = $30, average total cost = $25. Based on this information, the firm's Lerner Index is equal to:
A) 0.313. B) 0.375. C) 0.6. D) 0.625.
Initially, the economy is at point B on Figure 10-2 above. According to the Solow growth model, a dramatic decrease in the rate of saving after complete adjustment shifts the economy from ________
A) B to H, increasing output per capita B) B to C, increasing output and capital per capita C) B to D, decreasing the output and capital per capita in the long run D) B to E, decreasing output per capita but holding per capita capital constant
Exhibit 14-4 Aggregate supply and demand curves
?
In Exhibit 14-4, point E2 represents:
A. real GDP above full-employment GDP. B. real GDP that equals full-employment GDP. C. a depression. D. real GDP below full-employment GDP.