Over the last 100 years, the average U.S. growth rate in real GDP per person was about
A) 2 percent per year.
B) 6 percent per year.
C) 12.5 percent per year.
D) 1 percent per year.
A
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The larger the value of the marginal propensity to save (MPS)
A) the larger is the value of the marginal propensity to consumption (MPC). B) the smaller is the value of the multiplier. C) the larger is the value of the multiplier. D) the larger is the value of autonomous consumption.
Firms are ________ with an economic profit of zero, they will ________ in the industry because they ________ be better off in another industry
A) satisfied, stay, won't B) unsatisfied, leave, will C) satisfied, leave, will D) unsatisfied, stay, won't
The social and economic environment plays a secondary role when compared to the importance of land, labor, capital, and entrepreneurship
Indicate whether the statement is true or false
Which of the following will NOT happen when the Federal Reserve buys bonds from the public in the open market and cash in the hands of the public does not change?
A. The required reserve ratio will increase. B. The money supply will increase. C. The deposits of commercial banks will increase. D. Commercial bank reserves will increase.