Production functions only apply to advanced economies
Indicate whether the statement is true or false
False. Production functions describe the relationship between inputs and outputs, and apply to all kinds of economies.
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If you expect the inflation rate to be 12 percent next year and a one-year bond has a yield to maturity of 7 percent, then the real interest rate on this bond is
A) -5 percent. B) -2 percent. C) 2 percent. D) 12 percent.
Each of the following increases average labor productivity except :
A. more natural resources. B. more central planning. C. more physical capital. D. more human capital.
Which of the following are constraints on deposit creation?
a. the decision by consumers and businesses to take money out of transactions accounts and hold it as cash b. the decision by banks to stop lending money to qualified borrowers c. the decision by consumers, businesses, and governments to stop borrowing d. all of the above
What is the shape of the long-run supply curve in a constant-cost industry?
A) horizontal B) vertical C) downward sloping D) upward sloping