Assume that a country has had a relatively steady growth of aggregate real GDP. A higher population growth tends to
A) increase the level of economic freedom.
B) increase the level of dead capital.
C) increase the growth of per capita real GDP.
D) reduce the growth of per capita real GDP.
D
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In the above figure, the output of an oligopoly will range between
A) 0 and Q1. B) Q1 and Q2. C) Q1 and Q3. D) Q2 and Q3. E) 0 and Q2.
Refer to Table 2-5. What is Finland's opportunity cost of producing one cell phone?
A) 0.25 board feet of lumber B) 4 board feet of lumber C) 12 board feet of lumber D) 16 board feet of lumber
Refer to Figure 12-6. Jason is currently producing 20 thousand pounds of apples. To maximize his profit Jason should
A) keep production at 20 thousand pounds. B) increase production to the output rate indicated by point d. C) decrease production to the output rate indicated by point a. D) increase production to the output rate indicated by point e.
Which of the following is true?
a. Anticipated inflation is an increase in the price level that comes as a surprise, at least to most individuals. b. Unanticipated inflation is a change in the price level that is widely expected. c. Decision makers are generally able to anticipate slow steady rates of inflation with a fairly high degree of accuracy. d. Inflation will increase the prices of goods and services that households purchase but not the wage rates of workers.