Recall the Application about the productivity of large infrastructure investments to answer the following question(s). According to the Application, which of the following techniques do economists use to measure the productive effects of investments?
A. growth accounting
B. opportunity costs.
C. supply and demand analysis
D. production possibility curves
Answer: A
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When the euro falls in value relative to other currencies, then
A) goods imported into Europe rise in price. B) European exports rise in price. C) neither European exports nor imports rise in price. D) both European exports and imports rise in price.
If it is assumed that capital is alike and freely mobile between economies, the Solow growth model
A) has no need of the recent attempts at improving it. B) suffers from the "exogeneity" problem. C) suffers from the "non-convergence" problem. D) suffers from the "incentives" problem.
Moral hazard arises from
A) the difficulty of distinguishing good-risk borrowers from bad-risk borrowers. B) the likelihood that bad-risk borrowers are more likely to accept a loan than are good-risk borrowers. C) savers' difficulties in monitoring borrowers. D) borrowers' difficulties in locating savers.
________ costs represent a firm's opportunity cost of using its own resources or those provided by its owners without a corresponding cash payment
a. Explicit b. Marginal c. Implicit d. Sunk