The part of the disposable income that is not consumed by households is:
a. given away in the form of taxes.
b. given away as charity.
c. saved.
d. deducted as a depreciation cost.
e. spent on imports.
c
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The underlying fluctuations in real GDP due to the business cycle are reflected by fluctuations in
A) inflation. B) population growth. C) the labor force. D) real GDP per capita.
If marginal productivity is increasing, then total product is
A) increasing at an increasing speed. B) increasing at a constant speed. C) increasing at a decreasing speed. D) decreasing at an increasing speed.
The financial crisis that began in late 2007 ended which era?
A. The Great Recovery B. The Golden era C. The Great Moderation D. The Great Recession
If an economy with constant returns to scale were to double its physical capital stock, its available natural resources, and its human capital, but leave the size of the labor force the same,
a. its output would stay the same and so would its productivity. b. its output and productivity would increase, but less than double. c. its output and productivity would increase by more than double. d. None of the above is correct.