If a community spends more than the amount a categorical grant requires, the effect is _____
a. the same as a general grant
b. better than a general grant
c. worse than a general grant
d. impossible to determine given the available information
a
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In the simple Keynesian model, if aggregate expenditures exceed current output, inventories will ____ and businesses will ____ output.
a. decrease; increase b. decrease; decrease c. decrease; not change d. increase; decrease
The downward-sloping supply curve and the upward-sloping demand curve intersects to yield the equilibrium nominal interest rate
Indicate whether the statement is true or false
If a firm cannot cover its variable costs, it will
A. operate in the short run and stay in business in the long run. B. operate in the short run and go out of business in the long run. C. shut down in the short run and stay in business in the long run. D. shut down in the short run and go out of business in the long run.
The method of constructing a measure of technological progress relies on which of the following assumptions?
A) each factor of production is paid its marginal product B) population growth does not change C) population growth is zero D) the saving rate does note change