Refer to the information provided in Table 23.2 below to answer the question(s) that follow.
Table 23.2
Refer to Table 23.2. Society's MPC is
A. 0.1.
B. 0.2.
C. 0.8.
D. 0.9.
Answer: D
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The Balance of Payments always balances
Indicate whether the statement is true or false
Hospitals announce that there are not enough nurses available to keep them fully staffed. Economically speaking, what does this announcement mean?
A) The market wage for trained nurses is currently above the equilibrium wage. B) There is currently a surplus of nurses in this market. C) The market wage for nurses will eventually rise to the market clearing wage. D) The market will adjust very rapidly to correct this imbalance because anyone can be a nurse without any training.
Models must
A) be able to yield useable predictions. B) be totally realistic in every detail. C) be a complete reproduction of the real world. D) include every relationship that exists.
Increases in the capital stock: a. Shift the short run aggregate supply curve to the right
b. Shift the long run aggregate supply curve to the right. c. Shift both short run and long run aggregate supply curves to the right. d. Do none of the above