Which statement about fertility and economic growth is true?
a. Higher fertility rates correspond to greater economic growth.
b. Fertility rates tend to drop as countries become richer.
c. Family size tends to increase as nations become wealthier.
d. There is no connection between economic growth and fertility rates.
b. Fertility rates tend to drop as countries become richer.
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If the cross-price demand curve for capital (relative to the wage) is vertical, the short run response by a firm to an increase in the wage is the same as its long run response.
Answer the following statement true (T) or false (F)
If you own a bond with a seven percent coupon rate and new bonds are paying five percent, what will happen to your bond's market price?
What will be an ideal response?
We learn the following about a ski resort: ticket sales $100M, snow making expenses $70M, wages $20M, interest on business loans $5M, and profits $5M. What is the contribution to GDP using the product approach?
A) $70M B) $80M C) $95M D) $100M
The price elastic portion of the linear demand curve lies:
a. b and c. b. above the point of unit elasticity. c. anywhere to the left of current market prices. d. below the point where total revenue is maximized. e. at the intersection with the supply curve.