(1)Qd(2)Qd(3)Price(4)Qs(5)Qs5040$1070806050960708060850609070740501008063040
What will be an ideal response?
Refer to the table. In relation to column (3), a change from column (2) to column (1) would indicate a(n)
increase in demand
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Refer to Figure 8A.1. When the economy reaches K
A) economic growth through capital deepening continues to increase. B) capital stock increases. C) depreciation equals saving. D) depreciation is zero.
Suppose a country has a real interest rate of 4 percent and an inflation rate of 3 percent. If the income tax rate is 20 percent, then the after-tax real interest rate is
A) 2.6 percent. B) 7.0 percent. C) 5.6 percent. D) 4.0 percent. E) 1.4 percent.
The portion of the long-run average cost curve in which economies of scale are experienced shows that as output increases, the
A) average total cost decreases. B) average total cost increases. C) marginal cost increases. D) marginal cost decreases. E) average variable cost is constant and the average fixed cost decreases.
If you were a member of the NBER business-cycle dating committee, would you declare that the U.S
economy is now in a recession? Why? Describe the major variables that you would look at to determine whether the economy is in a recession or not, and what features of the data you would look for.