Figure 4-16
In Figure 4-16, an increase in the number of producers will shift supply from
a.
S1 to S2.
b.
S2 to S1.
c.
S3 to S2.
d.
S3 to S1.
a
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The aggregate production function used in the Solow model expresses GDP as a function of:
A) level of technology and total efficiency units of labor only. B) physical capital and level of technology. C) physical capital and total efficiency units of labor only. D) physical capital, level of technology, and total efficiency units of labor.
Assume that you have just returned to the United States from a summer vacation in Russia, where you exchanged American dollars for Russian rubles. Your economic actions can be said to have:
a. increased the supply of American dollars in Russia. b. decreased the supply of Russian rubles in America. c. decreased the supply of American dollars in Russia. d. increased the demand for American dollars in America. e. increased the supply of Russian rubles in Russia.
The more difficult the goal, the more likely military force is going to be needed to back up economic sanctions
Indicate whether the statement is true or false
The largest category of gross domestic income is
A. interest. B. wages. C. profits. D. rent.