Which of the following do not contribute to long-term economic growth?
a. substantial increases in the money supply
b. increased productivity
c. savings and investment
d. new production technologies
a
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Use the following figure to answer the next question.
At which point does marginal cost (MC) equal average variable cost (AVC)?
A. Point B B. Point C C. Point D D. Point A
Suppose sport utility vehicles get poor gas mileage compared to other available cars. If the price of gasoline increases, then one would then expect:
A. the demand for gasoline to decrease. B. the demand for sport utility vehicles to increase. C. the demand for sport utility vehicles to decrease. D. the quantity demanded of sport utility vehicles to decrease.
When the free-rider problem occurs in a market for a good, what is true of the quantity of the good supplied relative to the efficient quantity of the good?
A. The good is typically oversupplied in a market where the free-rider problem occurs. B. When the free-rider problem occurs, the good can be provided completely free of charge. C. The good is typically undersupplied in a market where the free-rider problem occurs. D. The good is typically efficiently supplied in a market where the free-rider problem occurs.
When per capita real GDP is increasing, real output is growing:
A. more rapidly than prices. B. more rapidly than population. C. less rapidly than prices. D. less rapidly than population.