Which would cause an increase in quantity supplied of product A?
a. A decrease in the price of resources used in producing A
b. An increase in the price of product B, a complement in the production of A
c. An increase in the price of A
d. An improvement in technology affecting the production of A
c. An increase in the price of A
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The interest rate on secondary credit is set ________ basis points ________ the primary credit rate
A) 100; above B) 100; below C) 50; above D) 50; below
If demand is price elastic, then when price decreases, total revenue
a. decreases b. increases c. does not change d. is less than one e. is negative
If the nominal GDP of a country in the year 2005 was$25 trillion and the GDP deflator (relative to the base year 2000 . was 125, the real GDP of this country was _____
a. $25 trillion b. $5 trillion c. $20 trillion d. $125 billion
Suppose the growth rate of GDP in the United States is 4.2 percent. If 2.9 percent and 1.3 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is:
A. 0 percent. B. 1.3 percent. C. 2.9 percent. D. 4.2 percent.