The economy will grow from points B to G in Figure 10-3 above over time because
A) per person saving and steady state investment will remain stable at points C and D respectively.
B) per person capital will grow, point D to E since per capita savings exceed steady state investment, point C is greater than point D.
C) per person capital will grow, point D to E since per capita savings is less than steady state investment, point C is greater than point D.
D) per person saving and steady state investment will remain stable at points D and C respectively.
B
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Which is not a reason Usury laws are often politically popular?
A. Few people sympathize with banks and other lenders who are suspected of price gouging. B. Consumers are in favor of the lower lending rates. C. The lower rates allow people to borrow more. D. Lenders, not the Usury laws, are often blamed by people who do not get loans.
(1)(2)(3)(4)(5)QdQdPriceQsQs5040$1070806050960708060850609070740501008063040Refer to the above table. If demand is represented by columns (3) and (2) and supply is represented by columns (3) and (4), the table suggests that equilibrium price and quantity:
A. will be $9 and 60 units. B. do not exist in this market. C. will be $8 and 60 units. D. will be $8.50 and 55 units.
The demand curve for a monopolist is
A. the industry demand curve. B. the same as the demand curve for a perfectly competitive firm. C. a unitary elastic demand curve. D. a perfectly inelastic demand curve.
When Burger Barn hires one worker, 20 customers can be served in an hour. When Burger Barn hires two workers, 50 customers can be served in an hour. The marginal product of the second worker is ________ customers served per hour.
A. 15 B. 30 C. 40 D. 67.5