If a firm shuts down in the short run, its losses are equal to
a. TC ? TR.
b. TFC.
c. TVC.
d. MC.
b
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According to the Solow model of economic growth, if per capita savings, s (Y/N)0, exceeds required steady state investment, (n + d) K/N, then
A) per capita output declines. B) capital per capita increases. C) capital per capita decreases. D) steady state growth characterizes the economy.
If the percent change in nominal GDP is 6 percent and the percent change in real GDP is 2 percent, inflation is:
A. 4 percent. B. 2 percent. C. 0 percent. D. 6 percent.
Which of the following will cause an increase in U.S. gross exports?
A. An increase in U.S. consumer income. B. An increase in foreign consumer income. C. A decrease in foreign business income. D. A decrease in foreign business investment.
Which of the following has been the largest organized group of U.S. unions during the past 50 years?
A) AFL-CIO B) AFL C) CIO D) Change to Win