Before the Industrial Revolution, living standards in the world:
A. Were relatively stagnant for long periods of time
B. Were already rising significantly for many decades
C. Are not known, for lack of reliable records from that period
D. Were declining because of rapid increases in population
A. Were relatively stagnant for long periods of time
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Which of the following examples is the only scenario that maximizes profits?
a. Cheap Energy stays at q1.
b. Cheap Energy moves from q1 to q*.
c. Cheap Energy moves from q1 to q2.
d. Cheap Energy stays at q2.
The costs of investment depend on the ________ and the ________.
A. relative price of the firm's output; real interest rate B. price of new capital goods; real interest rate C. taxes levied on the revenue generated; relative price of the firm's output D. marginal product of capital; relative price of the firm's output
A low exchange rate for the dollar makes foreign currencies:
A. more expensive, raising the price of imports. B. more expensive, lowering the price of imports. C. cheaper, lowering the price of imports. D. cheaper, raising the price of imports.
D. a higher price level will decrease the real value of many financial assets and therefore reduce spending
A. increase the amount of U.S. real output purchased. B. increase U.S. imports and decrease U.S. exports. C. increase both U.S. imports and U.S. exports. D. decrease both U.S. imports and U.S. exports.