If using the same resources, the U.S. workers can produce more of any good than Mexican workers, then the United States should produce every good
a. True
b. False
Indicate whether the statement is true or false
False
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If the marginal product of a unit of physical capital is 10 units of output, and the product that the physical capital is used to produce is sold for $5, the value of the marginal product of physical capital equals:
A) $2. B) $10. C) $20. D) $50.
A Phillips curve shows the short-run relationship between
A) potential GDP and real GDP. B) the nominal interest rate and the real interest rate. C) tax rates and tax revenues. D) the unemployment rate and the inflation rate.
The two interconnected concepts that lie at the heart of many financial crises are:
A. rational expectations and leverage. B. irrational expectations and forecasting. C. forecasting and leverage. D. irrational expectations and leverage.
Price competition among firms has proved to be more important than the introduction of new products
a. True b. False Indicate whether the statement is true or false