In the Solow growth model, if the level of investment is greater than depreciation at the initial capital-labor ratio , then ?k is ________ and the capital-labor ratio ________ toward the steady-state capital-labor ratio
A) greater than zero; increases
B) greater than zero; decreases
C) less than zero; increases
D) less than zero; decreases
A
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The mechanism of supply and demand is
A. a fundamental tool in both microeconomics and macroeconomics. B. the only real “law” of economics. C. a fundamental tool only in microeconomics. D. a fundamental tool only in macroeconomics.
Suppose firms become more optimistic about the economy's ability to avoid a recession and hence the expected profit increases. As a result, the demand for loanable funds curve shifts ________ and the real interest rate ________
A) leftward; rises B) rightward; rises C) rightward; does not change D) leftward; falls E) rightward; falls
Suppose you are an attorney, and you are defending a client in a wrongful death suit
The deceased was a pilot for an aerial acrobatics team, and the opposing attorney has prepared an an estimate of the value of lost income that includes the mortality rate for all pilots. You should argue that the attorney's estimate of lost earnings is too ________ because the mortality rate for aerial acrobats is ________ than for other types of pilots. A) low, lower B) low, higher C) high, lower D) high, higher
Invention is
A. the act of discovering new products or new ways of making products. B. the act of putting new ideas into effect. C. the collaboration of land, labor, and capital to bring to market goods and services. D. the act of reducing the number of inputs to increase the amount of output.