In the steady state of the Solow growth model
A) consumption equals depreciation.
B) per capita variables grow at the rate of population growth.
C) aggregate consumption grows at a constant rate.
D) aggregate output is constant.
C
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Digital cameras and memory cards are:
A. inferior goods. B. complementary goods. C. substitute goods. D. independent goods.
In the long run, profits for a monopolistic competitor will be:
A. the same as the profits for a monopolist. B. the same as the profits for a purely competitive firm. C. slightly less than the profits of a monopolist. D. slightly more than the profits of a purely competitive firm.
A method of measuring the money supply by looking at money as a medium of exchange is the
A. liquidity approach. B. transactions approach. C. fiduciary monetary system. D. capital control.
If a nation agrees to set an upper limit on the total amount of a product that it exports to another nation, then this situation would be an example of:
A. An import quota B. A revenue tariff C. A protective tariff D. A voluntary export restriction