As capital deepening occurs, there will be
A) decreases in depreciation and decreases in saving.
B) increased real wages and economic growth.
C) decreased real wages and decreases in saving.
D) economic growth and decreases in depreciation.
B
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Trend refers to
A) increases but not decreases of a variable. B) the difference between the maximum value of the variable and the minimum value of the variable. C) a general tendency for a variable to rise or fall. D) the scale used on the x- and y-axes. E) decreases but not increases of a variable.
Suppose the production function is Y = AK0.3N0.7. Suppose in 2000, K = 1000, N = 100, and Y = 199.5. In 2010, capital, labor, and output have doubled, so K = 2000, N = 200, and Y = 399
(a) By what percentage did productivity grow from 2000 to 2010? (b) If output had risen to 798 instead of 399, and capital and labor doubled, by what percentage would productivity have grown from 2000 to 2010?
The Federal Open Market Committee:
A. includes all regional bank presidents and the Board of Governors. B. is the most important policy-making body of the Federal Reserve. C. is responsible for regulatory oversight and implementation of monetary policy of regional banks. D. is responsible for monitoring how goods and services are being sold on the open market.
An oligopoly is a market
A. with few buyers. B. with one buyer. C. dominated by a few sellers. D. under the control of a few politically powerful individuals.