The accelerator is an integral part of
a. externally generated cycles
b. the war-induced cycle
c. the housing cycle
d. the innovation cycle
e. internally generated cycles
E
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Consider the market for wheat. If there is an improvement in harvesting technology,
A) the demand curve for wheat shifts rightward. B) the demand curve for wheat shifts leftward. C) there is a movement up along the demand curve. D) the supply curve for wheat shifts rightward. E) the equilibrium price rises.
To an economist, the four factors of production are
A. Entrepreneurship, machinery, workers, and profit. B. Labor, workers, profit, and services. C. Land, labor, capital, and entrepreneurship. D. None of the choices are correct.
The principle that if the amount of labor and other inputs is held constant, then the greater the amount of capital in use, the less an additional unit of capital adds to production is called the principle of:
A. increasing returns to capital. B. diminishing returns to capital. C. decreasing output per unit of capital. D. increasing average capital productivity.
The commercial banking system borrows from the Federal Reserve Banks. As a result, the checkable deposits:
A. of commercial banks are unchanged, but their reserves increase. B. and reserves of commercial banks both decrease. C. of commercial banks are unchanged, but their reserves decrease. D. and reserves of commercial banks are both unchanged.