Refer to Figure 11-1. Suppose the per-worker production function in the figure above represents the production function for the U.S. economy
If the United States decided to double its support of university research, this would cause a movement from
A) B to A. B) B to C. C) A to B. D) D to C.
B
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Which of the following is a monetary policy intended to rein in inflation?
A. Raising the interest rates to increase investment spending B. Decreasing the money supply to shift the aggregate demand curve leftward C. Reducing interest rates to increase investment spending D. Increasing the money supply to shift the aggregate demand curve rightward
A shortage occurs when price is higher than the market equilibrium
a. True b. False Indicate whether the statement is true or false
Under monopoly, resources are allocated as efficiently as in perfect competition
a. True b. False Indicate whether the statement is true or false
How is the market for capital affected by higher prices?
a. More owners will supply capital. b. Fewer owners will supply capital. c. The supply will remain the same. d. The price will increase demand.