If the MPC in the U.S. was low, it would increase the value of the multiplier
a. True
b. False
Indicate whether the statement is true or false
False
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Balanced growth occurs when
A) the economy is in steady state. B) the growth rates for the capital-labor ratio and real GDP per worker are the same. C) total factor productivity and capital accumulation each account for the same amount of growth in labor productivity. D) nations converge to the same level of real GDP per worker from equal increases in total factor productivity.
A capital gain results when
A) an asset is sold for more than it was purchased. B) a debt is settled. C) a person purchases a bond. D) a person buys gold.
When quantity demanded is greater than quantity supplied
A. price will fall to its equilibrium price. B. price will rise to its equilibrium price. C. price may rise, fall, or stay the same, depending on a variety of factors.
The economic life cycle describes how young people usually have higher savings rates than middle-aged people
a. True b. False Indicate whether the statement is true or false