Refer to Figure 8A.1. Suppose that the economy starts with a capital stock of K0. Then total saving is given by point ________ and depreciation by point ________
A) c; d
B) b; a
C) d; c
D) a; b
D
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A government agency charged with enforcing antitrust laws is
A) the Federal Reserve Board. B) the National Labor Relations Board. C) the Council of Economic Advisors. D) the Federal Trade Commission.
Suppose the market clearing price is $20 and the price ceiling is $15. The price that prevails in the market will be
A) $20. B) $15. C) less than $15. D) $0.
Monetarists accept the idea that velocity is not constant; nonetheless, they believe that it is still highly:
a. constant. b. unpredictable, ill-behaved, and independent of money supply. c. unpredictable, well-behaved, and dependent of money supply. d. predictable. e. variable.
According to the rule of 70, if a country grows at an average rate of 2 percent per year, what would happen after 35 years?
A. The country's nominal GDP would double. B. The country's real GDP would double. C. The country's real GDP per capita would double. D. The country's nominal GDP per capita would double.