Which factor of production accounts for the highest percentage of the income that the production process generates in the US?
a. Capital
b. Natural Resource
c. Land
d. Labor
d
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
In the above figure, if the economy is initially at an equilibrium output at point A and the interest rate is r1, then an open market purchase of bonds by the Fed will
A) not have any impact on short- or long-run equilibrium real Gross Domestic Product (GDP). B) cause interest rates to decline to r2, investment to decline, and aggregate demand to shift inward to the left. C) cause interest rates to increase and output to decline. D) cause interest rates to decline to r2, investment to increase to I2, and the AD curve to shift upward to the right.
Soo Jin shares a one-bedroom apartment with her classmate. Her share of the rent is $700 per month. She is considering moving to a studio apartment which she will not have to share with anyone. The studio apartment rents for $950 per month
Recently, you ran into Soo Jin on campus and she tells you that she has moved into the studio apartment. Soo Jin is as rational as any other person. As an economics student, you rightly conclude that A) Soo Jin figures that the additional benefit of having her own place (as opposed to sharing) is at least $250. B) Soo Jin did not have a choice; her roommate was a slob. C) Soo Jin figures that the additional benefit of having her own place (as opposed to sharing) is at least $950. D) the cost of having one's own space outweighs the benefits.
If you buy a put option on Treasury futures at 115, and at expiration the market price is 110, the ________ will ________ exercised
A) call; be B) put; be C) call; not be D) put; not be