Refer to the information provided in Figure 30.2 below to answer the question(s) that follow.
Figure 30.2Refer to Figure 30.2. Labor productivity at time t2 is
A. less than labor productivity at time t1.
B. larger than labor productivity at time t3.
C. less than labor productivity at time t3.
D. less than labor productivity at time t4, but larger than labor productivity at time t3.
Answer: B
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When investment occurs in developing nations
A) investors hope to gain significant returns on their investment and residents gain higher rates of economic growth. B) higher rates of economic growth are usually not achieved. C) significant levels of pollution usually occur. D) government politicians usually benefit from the illegal payments made to secure the investment.
Why is a firm in a monopolistically competitive industry considered a "mini" monopoly?
a. There are large number of sellers in the market. b. Each firm in monopolistic competition is a price taker. c. The product of each firm is unique in some way or the other. d. Each firm faces a perfectly elastic demand curve. e. There exists a large number of close substitutes of the products.
Answer the following statements true (T) or false (F)
1) Within the circular flow model, the level of total resource income and total spending on output will be approximately equal. 2) In determining GDP by the expenditures method, it is appropriate to use net investment rather than gross investment as a measure of investment spending. 3) Gross private domestic investment exceeds depreciation in an economy that experiences expanding production capacity. 4) Interest on the public debt is included as a part of government purchases in determining GDP by the expenditures method. 5) All expenditures on new construction are included as investment in calculating GDP.
Refer to the information provided in Figure 23.3 below to answer the question(s) that follow.
Figure 23.3Refer to Figure 23.3. [-60 + 0.3Y] is this society's
A. MPC. B. saving function. C. consumption function. D. MPS.