If it is cheaper in the long-run to use a new metal plow that lasts a long time than an inferior wooden plow that needs to be replaced often, then this is an example of:
A. A capital-using technology
B. A capital-saving technology
C. Capital consumption
D. Private capital flows
B. A capital-saving technology
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What is the relationship between the gross domestic product of a country and the level of life satisfaction in the country?
What will be an ideal response?
Describe how the level of U.S. military expenditures has varied as a percentage of GDP since 1945 . Provide a brief discussion of what caused the level of military expenditures to vary over the years
What will be an ideal response?
Sticky wages cause the:
A. short-run aggregate supply curve to slope upward. B. long-run aggregate supply curve to slope upward. C. short-run aggregate supply curve to slope downward. D. long-run aggregate supply curve to slope downward.
In the Solow model, if f(k) = 2k0.5, s = 0.1, n = 0.1, and d = 0.05, what is the value of f(k) at equilibrium?
A. 2/3 B. 8/3 C. 4/3 D. 2