The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Unplanned inventory changes are zero when real GDP equals
A) $300 billion. B) $500 billion. C) $900 billion. D) $700 billion. E) $800 billion.
E
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A productivity improvement will cause
A) a rightward movement along the saving-per-worker curve and an increase in the capital—labor ratio. B) an upward shift in the saving-per-worker curve and an increase in the capital—labor ratio. C) a downward shift in the saving-per-worker curve and a decrease in the capital—labor ratio. D) a leftward movement along the saving-per-worker curve and a decrease in the capital—labor ratio.
In the 1980s, the USA and the USSR negotiated a reduction in nuclear arms; this is an example of a
A) non-cooperative equilibrium. B) cooperative outcome that may not be a Nash equilibrium. C) cooperative outcome that was a Nash equilibrium. D) sub-game perfect equilibrium.
If price is lowered by law from the market equilibrium value of $5 to a lower value of $4:
A. producer surplus will decrease and there will be some total surplus lost. B. consumer surplus will decrease and there will be some total surplus lost. C. there will be lost surplus, as both producer surplus and consumer surplus decrease. D. both producer surplus and consumer surplus will increase.
Because one country’s imports are another country’s exports, rapid (or sluggish) economic growth in one country contributes to rapid (or sluggish) growth in other countries.
Answer the following statement true (T) or false (F)