In the short run, all prices are flexible.
a. true
b. false
Ans: b. false
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As the capital-labor ratio increases, real GDP per worker ________, and investment per worker ________
A) increases; decreases B) decreases; increases C) increases; increases D) decreases; decreases
Under a gold standard, a balance of payments surplus automatically
a. raised interest rates. b. increased exports. c. increased domestic prices. d. decreased imports.
As both the budget and regulatory powers of government grow, public choice analysis indicates that individuals and groups will find it in their interest to do which of the following?
What will be an ideal response?
Small differences in annual growth rates of real GDP generate large differences in real GDP over time because of the:
A. importance of average labor productivity. B. diminishing returns to capital. C. limits of economic growth. D. power of compound interest.