The process of adding more capital per worker is called capital deepening
a. True
b. False
Indicate whether the statement is true or false
True
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When the price of one product falls,
A. consumers’ real income will increase. B. consumers will buy less of that product. C. consumers will not change their buying patterns. D. consumers’ real income will decrease.
The money supply function reflects a positive relationship between the interest rate and the quantity of money supplied
a. True b. False Indicate whether the statement is true or false
Public goods differ from private goods in that
a. they produce negative externalities b. they are not scarce c. the benefits they generate cannot be denied to anyone d. their consumption must be regulated by the government e. their benefits are restricted to the one individual consuming the good
The effects of borrowing by the federal government would be studied by a microeconomist rather than a macroeconomist
a. True b. False Indicate whether the statement is true or false