Convergence refers to the idea that cross-country
a. growth rates will become more similar over time.
b. unemployment rates will become more similar over time.
c. per-capita income levels will become more similar over time.
d. total income levels will become more similar over time.
e. none of the above.
C
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If the real interest rate is lower than the equilibrium real interest rate:
A) the quantity of credit demanded equals the quantity of credit supplied. B) the quantity of credit demanded falls short of the quantity of credit supplied. C) the quantity of credit supplied falls short of the quantity of credit demanded. D) interest rates tend to fall further.
Based on the data in the above table, the table shows a market for a good with
A) an external cost. B) an external benefit. C) a mixed externality. D) no externalities.
Which of the following items are considered physical capital?
What will be an ideal response?
Changes in real GDP are best used to measure
A. Population growth. B. Price level changes. C. Inflation. D. Business cycles.