Other things held constant, higher saving rates lead to
A) increases in the number of hours workers work. B) decreases in real per capita GDP.
C) a lower standard of living. D) higher living standards.
D
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Interest rates in the United States rise relative to interest rates in other countries. As a result, in the foreign exchange market
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) the demand curve for dollars shifts leftward. D) there is an upward movement along the supply curve of dollars.
Which of the following equations based on capital (K) and labor (L) inputs does not represent a plausible production function?
A) F(K,L) = 3KL B) F(K,L) = 3K C) F(K,L) = K + L - 1 D) F(K,L) = 10(KL)0.5
Structural unemployment
a. arises from a mismatch between available jobs and workers' skills or geographic location b. is short-term joblessness experienced by those re-entering the labor force after a long absence c. occurs because of changes in seasons, tourist patterns, and similar factors d. does not occur when the economy is at full employment e. is joblessness resulting from business cycle movements
An outcome that can result from either a price ceiling or a price floor is
a. an enhancement of efficiency. b. undesirable rationing mechanisms. c. a surplus. d. a shortage.