Policies that increase research and development spending will increase the rate of technological change and thus shift the production function up vertically
a. True
b. False
A
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Refer to the scenario above. Which of the following techniques is used to arrive at the optimum decision in the scenario?
A) Optimization in levels B) Comparative statics C) Total net benefit approach D) Principal of Optimization at the Margin
Within the simple Keynesian Cross model, equilibrium takes place: a. at full employment
b. when aggregate spending equals real disposable income. c. when the money interest rate and real interest rate are equal. d. when actual and expected rates of inflation are equal.
Suppose that the income elasticity of demand for college education is 1.3 . This indicates that
a. college education is a necessity b. college education is an inferior good c. the demand curve for college education slopes downward d. college education is a normal good e. the demand curve for college education is horizontal
Graphically short-run equilibrium occurs at the intersection of the aggregate demand curve and the:
A. short-run aggregate supply line and the long-run aggregate supply line. B. the aggregate expenditure line. C. long-run aggregate supply line. D. short-run aggregate supply line.