Suppose the following situation exists for an economy: Kt+1/N > Kt/N. Given this information, we know that
A) saving per worker equals depreciation per worker in period t.
B) saving per worker is less than depreciation per worker in period t.
C) saving per worker is greater than depreciation per worker in period t.
D) the saving rate fell in period t.
E) none of the above
C
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A market equilibrium is only efficient if:
A. the consumer surplus and the producer surplus associated with a given transaction are equal. B. output is distributed equitably among consumers. C. consumer surplus and producer surplus are both zero. D. all relevant costs and benefits are reflected in the market supply and demand curves.
Refer to Figure 13-3. Suppose the economy is at point A. If investment spending increases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D
In which of the following decades did the American government take a more "hands off" or "let it alone" approach in its role in the economy?
A. 1970s B. 1940s C. 1930s D. 1920s
Facebook is a social networking website that is used by a growing number of individuals. Because of its popularity, it is now more difficult for new networking websites to enter and compete with Facebook. Facebook enjoys ________ as a barrier for others to enter the market.
A. a network externality B. price discrimination C. a negative externality D. economies of scale