If a nation experiences severe drought and real risk-free interest rate rises, then:
a. Aggregate demand rises, and aggregate supply falls.
b. Aggregate demand rises, but aggregate supply does not change.
c. Aggregate demand falls, and aggregate supply rises.
d. Aggregate demand and aggregate supply rise.
e. Aggregate demand and aggregate supply fall.
.E
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The change in total revenue divided by the change in quantity of labor employed is the
a. marginal physical product of labor b. marginal revenue product of labor c. price of the output d. demand for the output e. wage rate
A painting is currently worth $100,000, and is expected to maintain its real value for three years. The real interest rate is expected to remain constant at 10%. What is the present value of the painting's expected price at the end of the third year?
A) $75,131 B) $88,899 C) $96,153 D) $100,000 E) $70,000
Which of the following contributes to economic growth?
A. increase in environmental protection policies B. increase in consumer spending C. increase in labor regulations restricting the hours of overtime allowed D. increase in labor productivity
If the supply curve for land was a vertical line, then any payment made for land would be considered
A) as economic rent. B) as economic lease. C) as economic interest. D) as an opportunity lease payment.