In the saving function, autonomous saving is
A) -a + (1 - c)(Y - T).
B) (1 - c)Y.
C) -a.
D) -Y - T.
C
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Under a pure gold standard
A) the dollar is tied to gold and all other currencies are fixed relative to the dollar. B) all foreign exchanges involve gold for goods and services. C) all currencies are defined in terms of gold and these rates are fixed. D) all trade involves government agencies.
Innovation is the process of turning an invention into a marketable product
a. True b. False
During a recession, the price of restaurant meals falls by over 10 percent. The most likely cause is:
A. a shift of the demand curve to the right. B. a shift of the supply curve to the left. C. a shift of the supply curve to the right. D. a shift of the demand curve to the left.
How would each of the following changes affect the steady-state values of the capital-labor ratio, output per worker, and consumption per worker?(a)A change in the composition of the capital stock raises the depreciation rate.(b)A change in social mores lowers the population growth rate.(c)Government tax policies change to encourage a higher saving rate.(d)A supply shock reduces productivity sharply.
What will be an ideal response?