Which of the following is the most aggregated value?
A. total output of a city
B. total output of an industry
C. total output of a country
D. total output of a firm
Answer: C
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Refer to Figure 10.5. A shift from MP1 to MP3 will occur if
A) investors increase the short-term interest they expect in the future. B) investors increase the term premium they require on long-term bonds. C) the Fed decreases its target for the short-term nominal interest rate. D) the expected inflation rate decreases.
Which of the following is NOT a reason for average costs to fall according to the learning curve?
A) Workers accomplish tasks more quickly after doing the task a few times. B) Managers schedule more efficiently over time. C) Engineers determine more accurately what tolerances can be used. D) Suppliers may become better able to produce the exact inputs the firm needs. E) Competing firms leave the industry as the learning firm becomes more efficient.
The percentage of U.S. adults with a high school education or has:
A. remained constant since the 1960s. B. risen from 8 percent in 1960 to 31 percent in 2012. C. risen to over 90 percent in the twenty-first century. D. risen from 41 percent in 1960 to 88 percent in 2012.
The demand for loanable funds is determined by the willingness of ________ to borrow money to engage in new investment projects
A) government B) households C) banks D) firms