A free good is different from a scarce good because it is:
A) not tradable.
B) not produced.
C) not scarce.
D) found only in nature.
Ans: C) not scarce.
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The duration of an expansion is measured from:
A. peak to peak. B. peak to trough. C. trough to trough. D. trough to peak.
In the graph of the Solow growth model, at any point to the right of the steady-state intersection we have national saving per person ________ than steady-state investment per person, causing (K/N) to ________
A) greater, increase B) greater, decrease C) less, increase D) less, decrease
A system of accounts that measures the transactions of goods, services, income, and financial assets between domestic households, businesses, and governments and residents of the rest of the world during a specific time period is the
A) capital account. B) current account. C) balance of payments. D) balance of trade.
Profits are zero when __________ = ___________ = ___________.
Fill in the blank(s) with the appropriate word(s).