Consumer surplus is accurately measured along (uncompensated) demand curves when tastes are quasilinear.
Answer the following statement true (T) or false (F)
True
Rationale: When tastes are quasilinear, compensated and uncompensated demand curves lie on top of one another -- so the uncompensated demand curve can be treated as if it were a MWTP curve.
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An economy accumulates capital when
A) its capital-labor ratio increases. B) it increases the number of workers. C) GDP per capita increases. D) labor productivity declines.
The MFC curve
A) lies below the labor supply curve, when the labor supply curve is upward sloping. B) lies above the labor supply curve, when the labor supply curve is upward sloping. C) is the labor supply curve. D) is parallel to the labor supply curve, when the labor supply curve is downward sloping.
In the late 19th century, interest rates in the U.S.:
a. tended to remain relatively constant throughout the year. b. tended to increase in the summer and decrease in the winter. c. tended to increase in the fall and winter, and decrease in the spring and summer. d. tended to rise steadily from winter through summer, and then decrease in the fall.
If sales of Saudi Arabian oil to the rest of the world increase and Saudis use the proceeds to buy foreign goods, which of the following increases?
a. Saudi Arabian net exports but not Saudi Arabian net capital outflow b. Saudi Arabian net capital outflow but not Saudi Arabian net exports c. both Saudi Arabian net exports and net capital outflow d. neither Saudi Arabian net exports nor net capital outflow