We can use a per-worker production function in the Malthusian model because
A) there is a representative worker.
B) firms are competitive.
C) there is a steady state.
D) the production function has constant returns to scale.
D
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Use the following table shows values of annual real GDP per capita over time. Use it to answer the next question.1810$1,5001860$2,1001910$3,9001960$18,0002010$43,600What was the change in real GDP per capita between 1810 and 2010?
A. $43,600 B. $42,100 C. $69,100 D. $45,100
If there are equal rates of return between assets in two currencies, then there is
A) purchasing power parity. B) interest rate parity. C) parity of exchange. D) foreign exchange parity.
Claire works fifteen hours a week at a dry cleaning shop. Dustin is retired and living in a retirement home. Who is officially "unemployed"?
A) Claire B) Dustin C) Claire and Dustin D) neither Claire nor Dustin
Automatic stabilizers in the United States are: a. changes in government transfer payments and tax revenues that vary automatically and inversely to business cycle changes. b. controlled by the Federal Reserve System to help control the business cycle
c. able to completely eliminate all the lag problems associated with fiscal policy. d. none of the above.