In the steady state of Solow's exogenous growth model, an increase in total factor productivity
A) increases output per worker and increases capital per worker.
B) increases output per worker and decreases capital per worker.
C) decreases output per worker and increases capital per worker.
D) decreases output per worker and decreases capital per worker.
A
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Which of the following statements is true?
A) An overvalued domestic currency encourages exports. B) A country can keep its currency overvalued against the dollar as long as its dollar reserves last. C) A country can keep its currency overvalued against the dollar as long as it can print its own currency. D) An undervalued domestic currency encourages imports.
Arguably the simplest voting system is:
A. instant runoff voting. B. pair-wise majority voting. C. first-past-the-post voting. D. approval voting.
An increase in demand for oil, along with a simultaneous increase in supply of oil, will
A. increase price, but whether it increases quantity depends on how much each curve shifts. B. increase quantity, but whether it increases price depends on how much each curve shifts. C. increase price and decrease quantity. D. decrease price and increase quantity.
Use the following graph for a competitive market to answer the question below.
Assume the government imposes a $3 tax on buyers, which results in a shift of the demand curve from D1 to D2. The price the seller receives for the product after the tax is imposed on the buyer is
A. $7. B. $5. C. $8. D. $3.