Fish are
a. always renewable resources
b. renewable resources whenever property rights are well defined
c. renewable resources if they are taken and replaced at rates that provide a steady supply
d. renewable resources only if they are replaced at a rate that exceeds the rate at which they are caught
e. renewable resources whenever property rights are well defined and can be easily enforced
C
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If autonomous imports increase, then the aggregate expenditure curve shifts ________ and equilibrium real GDP ________
A) upward; increases B) downward; does not change C) downward; increases D) upward; decreases E) downward; decreases
Monetarists and Keynesians agree that expectations are
a. backwards-looking. b. rational. c. unstable. d. forwards-looking.
What usually results when interest rates continue to increase?
A. Spending decreases. B. Production increases. C. Purchasing power increases. D. Unemployment decreases.
Which of the following is an estimable form of a production function?
A. Q = f(L, 
)
B. Q = f(L, K)
C. Q = aK3L3 + bK2L2
D. all of the above
E. none of the above