If investment per-worker equals some value X, and depreciation per-worker equals some value Z, then the change in the capital stock per-worker is equal to ________
A) X+Z
B) X-Z
C) X times Z
D) X divided by Z
B
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When countries converge,
A) they all grow at the same rate. B) poorer ones grow faster. C) richer ones grow faster. D) richer ones do not grow.
An unexpected event that causes the aggregate demand curve to shift inward or outward is an
A) aggregate demand shock. B) aggregate supply shock. C) aggregate supply increase. D) aggregate supply decrease.
The effect of a quota is to
A) increase quantity supplied and lower price. B) increase quantity supplied and increase price. C) increase demand for the good and increase price. D) reduce quantity supplied and raise price.
The market supply in a perfectly competitive market is:
A. the sum of the quantities that each individual producer is willing to supply. B. the total quantity of a good that the biggest market shareholder supplies at a given price. C. fixed. D. derived from the MC curves from each firm after MC hits ATC.