The expansion of human capital and the discovery of new technologies ________ because ________
A) decrease real GDP; they shift the productivity curve downward
B) increase real GDP; they result in a movement upward along the productivity curve
C) increase real GDP; they shift the productivity curve downward
D) increase real GDP; they shift the productivity curve upward
E) decrease real GDP; they shift the productivity curve upward
D
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Refer to Figure 17-2. Suppose the economy is at point A in the figure above. Which of the following is true?
A) The long-run Phillips curve will shift to the right. B) The short-run Phillips curve will shift to the right. C) The short-run Phillips curve will shift to the left. D) The long-run Phillips curve will shift to the left. E) Actual inflation and expected inflation are the same.
Refer to the table below. What is Gorgeous Sands Resort's long-run marginal cost?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $6,000
B) $1,000
C) $5,000
D) $4,000
An implementation lag is the time it takes: a. for policy makers to decide what to do
b. for the chosen policy to have its full impact on the economy. c. to identify trouble in the economy and to assess its severity. d. to put a selected policy into action. e. before a policy's effects on the economy are noticed by ordinary people.
Relatively high interest rates in the United States contributes to a strong U.S. dollar (less dollars per another currency) and this may lead to a deficit on the U.S. current account
Indicate whether the statement is true or false