If people began to retire at a later age and there was an increase in the capital stock, real GDP growth would ____ and real GDP growth per capita would ____.
a. increase; increase
b. increase; be indeterminate.
c. decrease; decrease.
d. decrease; be indeterminate
a
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The above figure shows four different markets with changes in either the supply curve or the demand curve. Which graph best illustrates the market for computer manuals after technological advances in making computers occur?
A) Graph A B) Graph B C) Graph C D) Graph D
Which of the following statements is true?
a. In the case of positive externalities, a private market will produce too little of a good compared to the socially efficient level of output. b. In the case of positive externalities, a private market will produce too much of a good compared to the socially efficient level of output. c. Negative externalities occur when benefits accrue to individuals not directly involved in a transaction. d. Positive externalities occur when costs are imposed on individuals not directly involved in a transaction. e. In the case of negative externalities, a private market will produce too little of a good compared to the socially efficient level of output.
Assuming MPC is 0.90, what effect, if any, would a change in U.S. net exports of minus $20 billion have on the U.S. level of national income?
a. No effect since the goods would be consumed abroad b. National income increases by $200 billion c. National income decreases by $200 billion d. National income increases by $20 billion e. National income decreases by $20 billion
Recall the Application about federal quality standards in the market for kiwifruit to answer the following question(s).Recall the Application. The U.S. kiwifruit information asymmetry was reduced by advertising.
Answer the following statement true (T) or false (F)