Which of the following wars consumed almost half of the United States' total output?
A. the Civil War
B. World War I
C. World War II
D. the Vietnam War
C. World War II
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In a steady-state economy with no population growth, output per worker is 35, the saving rate is 20 percent, and the depreciation rate is 11 percent. The level of capital per worker is ________
A) 64 B) 19 C) 39 D) 28
If there are no interventions by finance ministers or control banks in the international market, then
A) the current account and the capital account must sum to zero. B) the current account will be greater than the capital market. C) the capital market will be greater than the current account. D) the capital market will equal the current account.
Two of the most important macroeconomic issues are unemployment and inflation.
Answer the following statement true (T) or false (F)
Which of the following is generally true of a monopolistic competitor operating in the long run?
a. price greater than minimum average total cost b. price equal to marginal revenue c. price equal to marginal cost d. positive economic profits