If an economy is operating at a point inside the production possibilities curve,
What will be an ideal response?
its resources are not being used efficiently.
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Suppose s = 0.14, Y = 4000, K = 6200, n = 0.02, and d = 0.08. In this case, national saving is ________ than steady-state investment, so that the amount of capital per worker is ________
A) greater, rising B) greater, falling C) less, rising D) less, falling
In Eastern Europe and the countries of the former Soviet Union,
a. grave environmental problems plague Eastern Europe. b. the area suffers from widespread illness and countless premature deaths. c. the Aral Sea, once the world's fourth-largest inland sea, is now half its previous size. d. All of the above are correct.
If the wage is kept above the equilibrium level because of minimum-wage laws, then the result is unemployment; if the wage is kept above the equilibrium level for some other reason, the result need not be unemployment
a. True b. False Indicate whether the statement is true or false
The quantity of aggregate goods and services demanded rises when the
a. price level rises, because the interest rate rises. b. price level rises, because the interest rate falls. c. price level falls, because the interest rate rises. d. price level falls, because the interest rate falls.