An appreciation of the British pound relative to the euro will cause England's:
a. Aggregate supply and aggregate demand to rise, which causes prices to rise and real GDP to fall.
b. Aggregate supply to rise and aggregate demand to fall, which causes prices to rise and real GDP to fall.
c. Aggregate supply to rise and aggregate demand to fall, which causes prices to fall and real GDP to change by an uncertain amount.
d. Aggregate supply and aggregate demand to fall, which causes prices to rise and real GDP to fall.
.C
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In endogenous growth models, it is assumed that
a. there are external economies from public or private investments. b. there are diminishing marginal returns to capital. c. growth is explained by forces outside the model. d. the capital-labor ratio is constant.
According to the Thomas (1954) analysis, American investment in industrial physical capital was
(a) labor-using in upswings of immigration. (b) labor-saving in upswings of immigration. (c) "labor neutral" over the course of immigration. (d) relentlessly labor-saving no matter what.
GDP is the market value of all final goods and services produced within a country in a given period of time
a. True b. False Indicate whether the statement is true or false
The long-run supply curve is upward sloping in a constant-cost industry.
Answer the following statement true (T) or false (F)