In the expanded circular flow diagram, the rest of the world interacts directly with
A) product markets. B) factor markets. C) households. D) firms.
A
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All of the following are government capital except
A) roads. B) schools. C) Treasury securities. D) mass-transit systems.
Assuming that total factor productivity is constant, describe the effect of an increase in the capital-labor ratio on the per worker production function
What happens to the marginal product of labor, the marginal product of capital, and real GDP per capita?
The OASDI trust fund is projected to sink below zero in ¬¬_____
a. 2012 b. 2021 c. 2033 d. 2045
Eric is maximizing his total utility through his choices of two goods: clothes and food. His marginal utility of clothes is 60 and his marginal utility of food is 12 . The price of clothes is $20 . What must be the price of food?
a. 12. b. 6. c. 4. d. 1. e. 0.