Which of the following will cause an increase in the steady-state growth rate of capital?
A) an increase in the saving rate
B) an increase in the population growth rate
C) a temporary increase in technological progress
D) all of the above
E) none of the above
B
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Suppose the AC curve is U-shaped. Then an increase in a recurring fixed cost will cause the AC curve to shift up, with its lowest point shifting to the right.
Answer the following statement true (T) or false (F)
Refer to Scenario 1-2. Had the firm not produced and sold the last 300 hats, would its profit be higher or lower, and by how much?
A) Its profit will be $1,000 lower. B) Its profit will be $100 lower. C) Its profit will be $1,100 higher. D) Its profit will be $100 higher.
If the price of a good is equal to the equilibrium price,
a. there is a surplus and the price will rise. b. there is a surplus and the price will fall. c. there is a shortage and the price will rise. d. there is a shortage and the price will fall. e. the quantity demanded is equal to the quantity supplied and the price remains unchanged.
If a bank uses $500 of excess reserves to make a new loan when the reserve ratio is 8 percent, this action by itself initially makes the money supply
a. and wealth increase by $500. b. and wealth decrease by $500. c. increase by $500 while wealth does not change. d. decrease by $500 while wealth decreases by $500.