If depreciation is smaller than gross investment,
A. Net investment exceeds depreciation.
B. The nation's capital stock is getting smaller.
C. Gross investment is negative.
D. Net investment is positive.
Answer: D
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In the figure above, the marginal rate of substitution (MRS) at point A is
A) greater than the MRS at any other point on the indifference curve. B) equals the MRS at all other points on the indifference curve. C) less than the MRS at any other point on the indifference curve. D) equal to the slope of the budget line.
The headline in the local paper today is "College tuition next fall rise by 6 percent." This statement is an example of
A) a normative statement. B) a positive statement. C) an invalid statement. D) ceteris paribus.
The federal government awards a patent holder the exclusive right to make, use, and sell an invention for a period of
A) 20 years. B) 17 years. C) unlimited period. D) 100 years.
Which of the following statements accurately describes the situation shown?
a. a movement along the short-run aggregate supply curve and an upward shift in the long-run aggregate supply curve
b. a rightward shift in the short-run aggregate supply curve and a rightward shift in the long-run aggregate supply curve
c. a movement along the long-run aggregate supply curve and no change in the short-run aggregate supply curve
d. a leftward shift in the long-run aggregate supply curve and a rightward shift in the short-run aggregate supply curve