The level of savings in an economy can be:
A. an important determinant of future productivity.
B. an important determinant of capital investment.
C. a source of funding for physical capital.
D. All of these are true.
D. All of these are true.
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Refer to Figure 22-4. Suppose the economy gains more capital per hour worked and experiences technological change. This is shown in the figure above by the movement from
A) E to B to D. B) A to E. C) A to B to C. D) A to D.
Provide a concise statement about the relationship between a developing country's emphasis on the export of traditional commodities and:
(a) export earnings stability; (b) comparative advantage; (c) terms of trade.
Which of the following is NOT a measure of the general level of prices?
A) Consumer Price Index B) Producer Price Index C) GDP Deflator D) Personal Sales Deflator Index
Which of the following defines total profit?
a. average revenue minus average cost b. marginal cost times output c. marginal revenue minus marginal cost d. total revenue minus total cost e. average cost divided by output